The S&P 500 is on track to have its worst start to an administration since Nixon in the 1970s.

But behind the index's bizarre start, a few stocks stood out — for better or worse.

Those who bet on protection (defensives, data, health) won.

Anyone who depends on consumer confidence, global trade or cheap production technology… has lost.

The biggest falls in the Trump administration 2.0

Rising tariffs and federal spending cuts have spooked industries like aviation, semiconductors and technology.

Among the biggest losers:

•Deckers Outdoor ($DECK): -48% Owner of the Ugg and Hoka brands — suffers from exposure to Asian production and tariff risk.

•Tesla ($TSLA): -33% Electric vehicle maker — in addition to tariffs, faces boycotts linked to Musk and Trump.

•Delta Air Lines ($DAL) and United Airlines ($UAL): -37% and -36% Airline giants hit by falling consumer confidence and risk of recession.

🔻Other negative highlights (and what each one does):

•Teradyne ($TER): -44% — testing for chips and electronics. •Albemarle ($ALB): -41% — production of lithium for batteries. •Zebra Technologies ($ZBRA): -39% — industrial printers and tracking. •Norwegian Cruise Line ($NCLH): -37% — cruise ships. •West Pharmaceutical ($WST): -36% — medical packaging. •Arista Networks ($ANET): -35% — equipment for networks and data centers. •Skyworks Solutions ($SWKS): -34% — wireless communication chips. •Bio-Techne ($TECH): -34% — inputs for biomedical research. •Global Payments ($GPN): -33% — digital payments.

Who did well in the Trump 2.0 era

While the market suffered, some stocks rode the wave:

•Palantir ($PLTR): +57% Data analysis software for governments and defense — a bet linked to the new DOGE initiative.

•Philip Morris ($PM): +40% Tobacco giant — considered a classic hedge in turbulent times.

•Netflix ($NFLX): +28% Video streaming — a business model little affected by tariffs.

Other positive highlights (and what each one does):

•Dollar General ($DG): +37% — low-cost retail. •VeriSign ($VRSN): +30% — internet domain registration. •Newmont ($NEM): +29% — gold mining. •CVS Health ($CVS): +24% — pharmacies and healthcare services. •Eli Lilly ($LLY): +22% — innovation-focused pharmaceutical company. •Take-Two Interactive ($TTWO): +21% — video game producer. •AT&T ($T): +20% — telecommunications. •Kroger ($KR): +20% — supermarkets. •CrowdStrike ($CRWD): +19% — cybersecurity. •Monster Beverage ($MNST): +19% — energy drinks.

📈 Moral of the story:

Trump returned bringing volatility, protectionism and a lot of sector rotation.

Those who bet on protection (defensives, data, health) won.

Anyone who depends on consumer confidence, global trade or cheap production technology… has lost.