Market stepped back

Key Points

• 1

  Tech stocks slipped hard and pulled the market lower.

• 2

  Fear stayed high, like students grabbing umbrellas before rain.

• 3

  Energy and staples held up better than most groups.

• 4

  Global rate and currency news added extra wind to the day.

Sector Performance

• EnergyOil and gas companiesThe gym team led the day.
  +1.54%
• Real EstateReal estate investment trusts (REITs)The building team held up well.
  +0.48%
• Consumer StaplesFood, household goods — everyday essentialsThe cafeteria stayed steady.
  +0.26%
• Health CareHospitals, pharma, and medical devicesThe nurse office stayed calm.
  +0.23%
• MaterialsSteel, chemicals, and raw materialsArt supplies barely moved.
  +0.01%
• UtilitiesElectric, water, and gas utility companiesThe power team slipped a little.
  -0.29%
• FinancialsBanks, insurance, and brokerage firmsThe class bank cooled a little.
  -0.35%
• Consumer DiscretionaryCars, retail — things people want but don't needThe snack corner got a bit quieter.
  -0.44%
• IndustrialsAirlines, machinery, and defense companiesThe workshop team looked weaker today.
  -1.22%
• Communication ServicesTelecom, media, and internet companiesThe class speaker lost some energy.
  -1.49%
• TechnologyGrowth companies like semiconductors & softwareThe star team had a rough day.
  -1.72%

Offense rested while defense held ground.