The U.S. stock market was getting rocked Tuesday, as investors grew wary of the promising trade talks that came out of the G-20 meeting and the inverted 3-year and 5-year treasury yields.
But there's a clear sign of where investors' appetite could soon be headed atop the leader board. The best performers of the day are largely defensive stocks, which tend to perform well during down years in the economy, which many on Wall Street have warned could be 2019.
While the Dow Jones Industrial Average was dropping 799.36 points, or 3.1%, these five stocks held strongest.
Procter & Gamble Co. (PG) - Get Report rose 0.01%. PG is a consumer staple, a classically defensive type of stock. JJ Kinahan, chief market strategist at TD Ameritrade told TheStreet "Procter & Gamble continuing to perform -- those are things people need."
On the yield curve, investors are worried the inversion could indicate a recession is coming soon. But Charlie Ripley, senior investment strategist for Allianz Investment Management, said "the curve could be inverted for quite some time before a recession actually takes place."