Tech rout drags S&P 500 down 1.4% despite defensive cushion

Price Action
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Summary · why it matters

The S&P 500 fell 1.4% on Tuesday as a sharp sell-off in technology stocks weighed on the broader market. Semiconductors led the decline, with Micron Technology plunging 13.2% and Nvidia dropping 4.2%, while AMD and Qualcomm lost 5.8% and 8.0% respectively. Tesla slid 5.8% in the consumer discretionary space, adding to the growth-stock rout. Defensive sectors provided some relief, as Microsoft bucked the tech trend with a 1.8% gain, Walmart rose 1.9% in consumer staples, and both health care and financials finished largely in positive territory.

Impact on stocks 9

Artificial Intelligence · 3 stocks
Semiconductors · 2 stocks
Consumer Staples · 2 stocks
Consumer Discretionary · 1 stocks
Electrification & Mobility · 1 stocks