Lumen’s stock follows record annual decline with another steep plunge this year

Lumen Applied sciences Inc. isn’t precisely in the perfect firm among the many S&P 500’s laggards this 12 months.

Of the eight worst-performing names within the index up to now in 2023, seven are beaten-down financial institution shares, together with SVB Monetary Group SIVB and Signature Financial institution SBNY, whose corresponding banks have collapsed and been taken over by the federal government. SVB and Signature shares are halted and are resulting from be booted from the S&P 500 SPX after at the moment.

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