Tech Sector Pulls Overall Market Lower

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after tech sector pulls overall market lower. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Dow drops 400 points as Apple, Amazon and Facebook fall

Micron fell 4 percent while Advanced Micro Devices dropped 4.9 percent. Shares of Netflix and Alphabet also dropped 4.1 percent and 2.2 percent, respectively. The technology sector was the best performer in the S&P 500 last year and is the second-best performer for 2018.

The S&P 500 (SPY) back pedaled -1.66% today. Sector decliners led advancers 9 to 2 as shown below in the sector graph. Technology (XLK) -3.81% and communication services (XLC) -3.03% led decliners down. Consumer discretionary (XLY) fell by -2.44%. Healthcare (XLV), industrials (XLI) and materials (XLB) each fell by more than 1%. Consumer staples (XLP), energy (XLE), financials (XLF) each had minor losses of less than 1%. Real estate (XLRE) and utilities (XLU) bucked the trend today, each gaining less than 1%.

The Dow Jones plummeted 395 points (-1.56%) to close at 25,017. The Nasdaq dove 219 points (-3.03%) to settle at 7,028.

Tech Sector Pulls Overall Market Lower

Stocks suffered a deep pullback on Monday as tech giants such as Apple, Facebook and Google are now in a bear market…down more than 20% from their 1 year highs. Apple dropped more than 3% after the Wall Street Journal reported the company has cut production orders of the iPhone that came out earlier this year. Facebook gave back more than 5% after more negative reports came out regarding foreign influence in the 2016 election.

Key Takeaways…

I took the following CNBC screenshots this morning regarding betting on FANG and Netflix “Death Cross” forming:

Tech Sector Pulls Overall Market Lower

Tech Sector Pulls Overall Market Lower

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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11/19/18

S&P 500 Sector Graph

Tech Sector Pulls Overall Market Lower

S&P 500 (SPY)

Tech Sector Pulls Overall Market Lower

Communication Services (XLC)

Tech Sector Pulls Overall Market Lower

Consumer Discretionary (XLY)

Tech Sector Pulls Overall Market Lower

Consumer Staples (XLP)

Tech Sector Pulls Overall Market Lower

Energy (XLE)

Tech Sector Pulls Overall Market Lower

Financials (XLF)

Tech Sector Pulls Overall Market Lower

Real Estate (XLRE)

Tech Sector Pulls Overall Market Lower

Healthcare (XLV)

Tech Sector Pulls Overall Market Lower

Industrials (XLI)

Tech Sector Pulls Overall Market Lower

Materials (XLB)

Tech Sector Pulls Overall Market Lower

Technology (XLK)

Tech Sector Pulls Overall Market Lower

Utilities (XLU)

Tech Sector Pulls Overall Market Lower

S&P 500 Sector Heat Map

Tech Sector Pulls Overall Market Lower

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