As U.S. momentum stocks take beating, some sectors benefit

Investors in some of the past year's hottest U.S. stocks have been given a savage lesson in the risks of so-called "momentum trading". A group of 24 such companies compiled by Credit Suisse has lost $63 billion in market value, or almost 19 percent, so far in March. The sell off may well have further to go, investors warn. For one thing, the initial public offering market looks vulnerable after King Digital Entertainment (KING.N), maker of the popular Candy Crush online game, cratered on its debut, losing 15 percent in its first day of trade on Wednesday, and another 2.7 percent on Thursday.

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