As the S&P 500 surges to record highs amid economic resilience and tech-driven gains, not every stock is riding the wave. Year-to-date through November 29, 2025, a select group of blue-chip names has suffered steep declines, dragging investor portfolios into the red. From fintech fumbles to retail woes, these drops highlight vulnerabilities in key sectors like payments, apparel, and healthcare. In this analysis, we break down the top 10 worst performers in the S&P 500, their percentage losses, and the underlying factors fueling the sell-offsβoffering insights for savvy investors eyeing potential rebounds or further downside.
1. Fiserv (FISV) -70.1%
Fintech giant Fiserv has been hammered by intensifying regulatory scrutiny on payment processing and rising competition from blockchain alternatives. A string of earnings misses in Q2 and Q3 exposed vulnerabilities in its core merchant services, with costs soaring amid global economic headwinds. Investors fled as the company slashed its full-year guidance, signaling prolonged pressure in a digitizing world.
2. The Trade Desk (TTD) -66.3%
Ad-tech powerhouse The Trade Desk grappled with a post-cookie era slowdown, as privacy regulations curbed targeted advertising revenues. Q3 results revealed softer demand from major clients, compounded by macroeconomic jitters delaying digital ad spends. Despite innovative programmatic tools, the stock’s valuationβonce sky-highβhas corrected sharply as growth forecasts dim.
3. Deckers Outdoor (DECK) -56.7%
UGG and Hoka parent Deckers Outdoor faced inventory overhang from last year’s hype, leading to aggressive discounting that eroded margins. Supply chain disruptions from geopolitical tensions hit hard, while shifting consumer tastes away from athleisure post-pandemic contributed to weaker-than-expected holiday previews. The apparel sector’s broader malaise amplified the pain.
4. Gartner (IT) -52.0%
Consulting firm Gartner saw demand wane as corporate IT budgets tightened amid recession fears. Subscription renewals dipped in Q3, with clients prioritizing cost-cutting over strategic research. Elevated interest rates further squeezed spending on non-essential services, turning this steady performer into a casualty of enterprise belt-tightening.
5. Lululemon Athletica (LULU) -51.8%
Athleisure leader Lululemon encountered fierce rivalry from budget brands and a backlash against premium pricing in a value-conscious market. International expansion hiccups, including tariff impacts on Asian imports, led to inventory bloat and margin compression. A disappointing Q2 earnings call triggered the bulk of the slide, raising doubts about sustained growth.
6. Molina Healthcare (MOH) -49.1%
Managed care provider Molina Healthcare buckled under Medicaid redeterminations, with enrollment drops from post-pandemic eligibility reviews slashing revenues. Rising medical costs and regulatory changes in government programs exacerbated losses, prompting a downward revision to 2025 outlook that spooked healthcare investors.
7. Alexandria Real Estate Equities (ARE) -45.0%
Life sciences REIT Alexandria has been battered by biotech funding droughts, leaving high-end lab spaces vacant amid a sector-wide pullback. Interest rate hikes inflated borrowing costs for property development, while biotech IPO slowdowns reduced demand. Commercial real estate’s broader slump has made recovery elusive.
8. Chipotle Mexican Grill (CMG) -42.8%
Fast-casual darling Chipotle stumbled with supply chain bottlenecks driving up food costs and operational inefficiencies. A Q3 menu pricing misstep alienated price-sensitive customers, while labor shortages hampered expansion. Despite strong brand loyalty, these headwinds have overshadowed traffic gains, leading to a rare multi-decade low.
9. FactSet Research Systems (FDS) -42.3%
Financial data provider FactSet lost ground to free alternatives like AI-driven analytics tools, eroding its premium pricing power. Slower asset management inflows reduced demand for market intelligence, with Q2 results showing flat growth. As Wall Street consolidates, smaller players are squeezed out, hitting FactSet’s subscription model hard.
10. Charter Communications (CHTR) -41.6%
Cable operator Charter Communications wrestled with cord-cutting acceleration and broadband competition from 5G wireless. Subscriber losses mounted in Q3, offset only partially by price hikes that risked further churn. Regulatory battles over spectrum access added uncertainty, underscoring the telecom sector’s pivot pains.
These declines underscore a tale of two markets: booming AI and tech giants versus struggling cyclicals and disruptors. While the S&P 500’s 15%+ YTD gain masks the pain for these laggards, opportunities may lurk for contrarian plays if economic tailwinds return. Investors should monitor upcoming earnings for turnaround signals, but caution remains key in this bifurcated landscape.
