S&P 500 Just Wiped Out $3 Trillion: Why This 0.35-Beta Stock is a Safe Haven Maham Fatima Mon, November 9, 2026 at 12:49 PM EST 4 min read ^GSPC +2.30% ^SOX +6.45% ^IXIC +2.48% JAZZ +3.15% Trade JAZZ on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
We just published the list of Forget the High-Beta Hype: 10 'Sleep Well at Night' Stocks to Buy Now and Jazz Pharmaceuticals (NASDAQ:JAZZ) ranks 6th on this list.
Yahoo Finance reported that the S&P 500 fell more than 4% on Thursday, November 5, its worst day since the April 2025 tariff crash, erasing roughly $3 trillion in market value. The Nasdaq slid into a correction, and the PHLX Semiconductor Index dropped 12%, its worst session since March 2020.
The shock rippled well beyond one session, and Friday brought only partial relief. The S&P 500 closed at 7,376.86, up 0.31%, but the index was still on pace for its worst week since June. The VIX, Wall Street's fear gauge, settled at 25.64 after jumping as much as 70% a day earlier.
Yahoo Finance's Brian Sozzi noted that a one-day VIX surge of that size has happened only eight times since 1991. After those episodes, the S&P 500 averaged a gain of 3.0% one month later and 7.1% three months later. History leans against panic, yet it does little to smooth the ride for portfolios packed with fast-moving names. Those portfolios absorb the drawdowns first, and the drawdowns are what test an investor's patience.
That is why beta matters. Investopedia describes beta as an indicator of a stock's price volatility compared with the broader market, which carries a beta of 1.0 when measured by an index such as the S&P 500. A reading below one means the stock's price has been more stable than the market's, so a stock with a beta of 0.5 would have risen or fallen only half a percent when the index moved 1%. Investors weighing quality against momentum can find more ideas in our ranking of the best undervalued stocks to buy in October.
Investopedia explains that the forward price-to-earnings ratio divides a share price by the earnings per share analysts expect over roughly the next 12 months. It notes that no forward P/E is universally good because the ratio varies by industry, though a lower figure may suggest a stock is undervalued relative to its future earnings potential. Revenue growth of at least 5% adds a second test, since a low multiple on a shrinking business may simply mean it is cheap for a reason. Together, the two screens look for companies that are still growing at a modest price.
The recent selloff was concentrated in the AI and data-center trade, with chipmakers hit hardest and few places to hide for investors chasing momentum. Companies with little exposure to that spending sit in a different corner of the market, and precious metals producers are one such group. Our list of the best gold stocks according to analysts covers more of it.
Jazz Pharmaceuticals has a $15.07 billion market cap, a beta of 0.35, a forward P/E of 8.82 and year-over-year revenue growth of 10.38%, plus an 8.70% 5-day return and 46 hedge fund holders in Q2 2026.
Jazz Pharmaceuticals is growing across several drug franchises at once. In the third quarter, it posted record revenue of $1.2 billion, up 10% year over year, and management raised its full-year revenue guidance, saying sustained execution across the whole business gave it the confidence to do so. The rare sleep franchise remains the anchor: Xywav revenue grew 12%, and the company added 425 net patients in the quarter.
The pipeline gives the story a second leg. Ziihera has launched in first-line HER2-positive gastroesophageal adenocarcinoma, a cancer setting where Jazz is building its oncology presence. The company also closed its acquisition of Actio, which adds a candidate called ABS-1230 in rare and refractory epilepsies, an area where Jazz already sells its Epidiolex medicine.
That mix of sleep, epilepsy and oncology reduces dependence on any single product. Management has described its aim as a more innovative and diversified Jazz, and the quarter showed progress toward that goal. Investors are paying a single-digit forward P/E for a drugmaker with a low beta, which makes the shares one of the steadier ways to own biotech growth.
Read our analysis on Jazz Pharmaceuticals (JAZZ) here: Jazz Pharmaceuticals (JAZZ) Places An $820M Epilepsy Bet
While we acknowledge the potential of JAZZ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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