Defensive Stocks Are Starting to Crack

The stock market saw big declines on Wednesday, wiping out Tuesday's gains and returning to close to their worst levels in more than a year. Inflationary pressures made themselves felt more prominently than ever in earnings reports from key companies, setting the stage for a decline that continued throughout the day. By the close, the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) were down between 3.5% and 5%.

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Source Fool.com