J&J lost $36 billion on its earnings day. All 75 S&P 500 financials lost $35 billion on theirs.

Johnson & Johnson fell 5.73% on Tuesday, 13 October, and took $36.4 billion off the S&P 500. That is more than the index's 75 financial stocks lost between them, $35.3 billion, on the day the big banks opened earnings season.

The S&P 500 itself barely moved. Across all 500 companies the net change was a loss of about $6 billion.

Health care carried the day's losses

Health care was the worst sector on the map, down 1.27% and $84.2 billion. $JNJ was 43% of that. $LLY, $ABBV and $MRK added another $35 billion between them, and only 23 of the sector's 60 stocks rose.

J&J reported third-quarter results before the open. Headlines described an earnings beat and a raised full-year outlook, alongside weak medical device sales and a talc charge. The shares fell on the day of that report.

A rare move for J&J

The site holds daily closes for $JNJ back to March 2025. In that stretch, Tuesday's 5.73% fall is the second largest one-day drop, behind only the 7.59% fall on 1 April 2025. Before 13 October, J&J had not fallen more than 3.7% in a single session since May 2025.

The banks themselves were mixed. $C fell 5.60% and $WFC 3.10%, while $JPM slipped 0.86% and $GS 0.23%. Citigroup was the largest single loss in financials at $12.4 billion, about a third of J&J's.