Major Movers
SPY is down 0.9% pre-market as tech-led selling offsets gains in defensive and staple-heavy sectors.
XLK leads sector losses at -2.9%, dragged by semiconductors and hardware, with Intel down 25.3% and AMD off 8.0% the sector's worst performers. XLY falls 1.8%, with Amazon down 6.8% the clear laggard. XLV gains 1.2%, led by Gilead Sciences up 4.3%, even as Stryker drops 10.2% within the same sector. XLP rises 1.7% broadly, with Mondelez up 7.6% the standout. XLE adds 1.3% across the board. XLF is up 0.5% even as Robinhood falls 6.1% and Coinbase falls 5.1%. In XLI, General Dynamics jumps 1.9% while Vertiv drops 6.0%.
Among factors, SPMO (-2.5%) and growth-oriented factors underperform, while SCHD (+0.8%) and dividend-focused factors hold up better.
In mega-cap growth, AMD (-8.0%) and Amazon (-6.8%) lead declines, while Gilead Sciences (+4.3%) and Vertex Pharma (+2.3%) are the strongest gainers.
Among other sector ETFs, semiconductor funds are the weakest, with SOXX down 5.8% and SMH down 4.4%.
Semiconductor and hardware names dominate the loser list, while staples and services names lead the gainers.
- DexCom +3.4%
- Automatic Data Processing +2.0%
- Coca-Cola Europacific Partners +1.9%
- Labcorp +1.9%
- T-Mobile US +1.8%
- Reddit -22.6%
- Dell Technologies -8.8%
- Arm Holdings -8.4%
- Coherent Corp -7.8%
- Credo Technology Group -7.0%
Thematic AI and tech funds are broadly lower, with BAI down 4.7% and ARKK down 3.6%. Regional funds tied to Asian tech supply chains also decline, with EWY down 4.1% and EWT down 3.2%. Metals funds slip as well, led by SLV down 3.0%.
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