Major Movers
Published
The S&P 500 ETF falls 0.8% in a session marked by a sharp risk-off tilt in technology, while defensive and rate-sensitive groups hold up. Technology leads sector losses at -1.7%, dragged by semiconductors, with Lam Research down 9.8%, Applied Materials off 6.4% and KLA Corp down 5.6% at the bottom of the group, while HP Inc and Salesforce buck the trend with gains. Industrials drop 1.3% even as Lockheed Martin jumps 9.1% after the US signs a deal for a minimum of 850 F-35 jets, and CSX Corp rises 6.5%, against steep declines in Generac (-6.4%) and Ingersoll Rand (-6.0%). Consumer Staples outperform at +1.3%, led by Procter & Gamble up 5.5%, while Financials add 0.6% on strength in exchanges and insurers led by Nasdaq Inc (+4.8%). Health Care gains 0.9%, though Moderna slides 3.8%.
Growth and momentum factors are underwater across the board: High Beta -2.5%, Momentum -1.9%, Mega Cap Growth -1.6%, while Value is flat.
Within mega-cap growth, Meta Platforms slides 6.5% after shares erased $100 billion in value at the open, with its credit default swaps hitting an all-time high on higher spending plans, while Broadcom, Nvidia and Amazon also decline.
Semiconductor ETF drops 4.0% and VanEck Semiconductor ETF falls 3.5%, tracking the chip selloff, while Metals & Mining ETF falls 3.3%.
Among individual movers, Hexcel Corporation and Teradyne post the sharpest declines overall, while Allegion and Palo Alto Networks lead gainers.
- Allegion +6.8%
- Palo Alto Networks +4.7%
- Roper Technologies +4.6%
- Equifax +4.0%
- Thomson Reuters +4.0%
- Entegris -7.8%
- Coherent Corp -7.9%
- nVent Electric -8.1%
- Teradyne -8.7%
- Hexcel Corporation -10.7%
Gold miner and silver miner ETFs fall sharply as spot gold drops nearly 2%, with the VanEck Junior Gold Miners ETF down 4.7% and the Silver ETF off 4.6%. Regionally, Asian tech-linked names underperform, with the iShares MSCI Taiwan ETF down 2.8% and the Invesco China Technology ETF off 2.7%, while AI-linked thematic funds also decline, led by the WisdomTree Artificial Intelligence and Innovation Fund at -4.0%.
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