Tech weakness pulled market lower

Key Points

• 1

  The Nasdaq fell 4.18%.

• 2

  Technology had the largest drop.

• 3

  The fear index showed extreme fear.

• 4

  Staples and utilities rose.

Sector Performance

• Consumer StaplesFood, household goods — everyday essentialsDefensive demand lifted the sector.
  +1.71%
• UtilitiesElectric, water, and gas utility companiesStable-demand sectors drew support.
  +0.93%
• Real EstateReal estate investment trusts (REITs)It rose in the defensive shift.
  +0.68%
• Health CareHospitals, pharma, and medical devicesDefensive demand supported gains.
  +0.61%
• FinancialsBanks, insurance, and brokerage firmsIt edged higher despite weakness.
  +0.21%
• IndustrialsAirlines, machinery, and defense companiesEconomic concerns weighed on it.
  -1.12%
• Communication ServicesTelecom, media, and internet companiesIt fell, but less sharply.
  -1.27%
• EnergyOil and gas companiesIt fell with the wider market.
  -1.84%
• MaterialsSteel, chemicals, and raw materialsCyclical weakness hurt the sector.
  -1.92%
• Consumer DiscretionaryCars, retail — things people want but don't needIt fell amid Musk-related news.↗Source
  -2.05%
• TechnologyGrowth companies like semiconductors & softwareTech weakness weighed on markets.
  -6.66%

Tech fell hard while defensive sectors rose.