Major Movers
Published
The S&P 500 ETF is down 0.6% as a sharp semiconductor selloff drags Technology (-2.6%) to the bottom of the main sectors, with the Philadelphia Semiconductor Index on pace to erase more than $2 trillion in value over seven sessions. Health Care (+2.4%), Consumer Staples (+1.9%) and Real Estate (+1.2%) are the leading gainers, while Industrials (-1.3%) and Energy (-0.7%) also lag. Financials is roughly flat (+0.3%) but masks a split: Charles Schwab falls 5.3% and Robinhood 5.7%, while Walmart jumps 3.9% within Staples on an intraday high. In Materials (+0.8%), FMC plunges 39.1%.
Factors show a clean risk-off, value-over-growth tilt: High Beta -3.4%, Momentum -3.0% and S&P 500 Momentum -2.4% lead decliners, while Value and Equal Weight are positive.
Within mega-cap growth, Intuit (+5.5%) and Adobe (+4.4%) stand out to the upside, while Lam Research (-6.1%), Applied Materials (-5.4%) and KLA (-4.8%) lead chip-related weakness.
Semiconductor ETFs SOXX (-4.1%) and SMH (-3.6%) extend the chip rout.
Neocloud names are hit hard amid the broader tech selloff, with CoreWeave and Nebius both falling sharply per the news flow, while insurance brokers post some of the day's largest gains.
- Brown & Brown +5.4%
- Marsh McLennan +5.3%
- Arthur J. Gallagher +5.1%
- Trade Desk +5.0%
- Copart +4.6%
- Rocket Lab -14.5%
- Coherent -9.6%
- Dell Technologies -8.9%
- Nebius Group -8.8% - amid neocloud selloff
- CoreWeave -8.7% - amid neocloud selloff
Thematic AI and robotics funds are sharply lower, with WisdomTree Artificial Intelligence and Innovation Fund down 5.4% and iShares A.I. Innovation and Tech Active ETF down 4.7%. Regionally, iShares MSCI South Korea ETF drops 5.8%, and rare earth miners via VanEck Rare Earth and Strategic Metals ETF fall 3.2%.