Major Movers
Published
SPY is down 1.4% after CPI comes in hotter than expected, with core CPI climbing to 2.6% from 2.4%, fueling bets on additional Federal Reserve rate hikes.
Technology leads sector losses at -2.9%, with Oracle down 8.5% and AMD off 5.5% dragging the group lower. Industrials fall 1.7%, Consumer Discretionary 1.3%, and Financials 1.1%, with Bank of America down 5.8%, its steepest drop since April 2025. Health Care is the standout gainer at +2.2%, led by Merck and AbbVie, both up near 4%. Consumer Staples add 1.6%, while Energy edges up 0.6% even as Materials, Real Estate, and Utilities slip modestly.
Factors show a clear risk-off tilt: High Beta drops 4.1% and Momentum falls 2.6%, while Value holds up relatively well at -0.3%.
Within mega-cap growth, health care names outperform while Oracle, Bank of America, and AMD lead declines, and Tesla and Nvidia are both down more than 2%.
Semiconductor ETFs are hit hard, with SOXX down 4.3% and SMH off 3.9%, alongside JETS down 4.2% and XME down 4.4%.
CoreWeave and Nebius Group are among the steepest decliners on the Nasdaq 100, with CoreWeave's CEO attributing the drop to the market acting irrationally. Paramount Skydance and Dell Technologies are also sharply lower, while Elbit Systems and Pfizer lead gainers.
- Elbit Systems +4.8%
- Pfizer +3.6%
- Brown–Forman +3.1%
- Viatris +2.7%
- Dollar Tree +2.7%
- AST SpaceMobile -9.8%
- Nebius Group -11.2%
- Dell Technologies -11.7%
- CoreWeave -16.5%
- Paramount Skydance -27.2%
Precious metals miners slide as gold and silver extend declines, with GDX down 5.2% and SLV off 6.2%.