Tech Selloff Pull Equities Lower
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after tech selloff pull equities 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:
Michael Nagle | Bloomberg | Getty Images The moves in pre-market trade come after Wall Street finished Monday’s session sharply higher, with the Dow Jones industrial average soaring 669.40 points, posting its biggest one-day percentage gain since August 2015.
The S&P 500 (SPY) dropped -1.73% today as the tech selloff pull equities lower. Sector decliners led advancers 8 to 2 as you can see in the sector graph below. Technology (XLK) -3.21% drove negative sectors down. Consumer discretionary (XLY), financials (XLF), healthcare (XLV), industrials (XLI) and materials (XLB) each had -1% losses or more. Consumer staples (XLP) and energy (XLE) had declines of less than 1%. Utilities (XLU) had a gain of +1.43%. Real estate had a minor gain of less than 1%.
The Dow Jones index gave up -344 points (-1.43%) to close at 23,857. The Nasdaq shed -211 points (-2.93%) to settle at 7,008.
The Nasdaq almost dropped -3% as tech on the backs of Nvidia and Facebook pushes stocks down. Facebook pulled back another -4.9% today as Bank of America Merrill Lynch dropped its price target for the 2nd time in 5 days. Shares of chipmaker Nvidia gave back -7.75% as the company temporarily suspended its self driving tests as the NTSB investigates a fatal crash from last week.
Notable S&P movers…
- AAPL -2.56%
- MSFT -4.60%
- AMZN -3.78%
- FB -4.90%
- JPM -1.94%
- GOOG -4.57%
- NFLX -6.14%
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map