Tech is bleeding and the defensive names are doing the heavy lifting — make of that what you will.
Tech is bleeding and the defensive names are doing the heavy lifting — make of that what you will. TSLA down 7.49% to 393.45. Biggest loser on the board, and it's not close. INTC off 5.25% to 120.35 — Intel can't catch a break. META drops 4.9% to 582.90, no catalyst needed when sentiment turns. AMD…
Transcript
Tech is bleeding and the defensive names are doing the heavy lifting — make of that what you will.
TSLA down 7.49% to 393.45. Biggest loser on the board, and it's not close. INTC off 5.25% to 120.35 — Intel can't catch a break. META drops 4.9% to 582.90, no catalyst needed when sentiment turns. AMD slides 4.26% to 517.82, dragged along for the ride.
Four red chips. All tech. That's not a coincidence.
Flip side — AAPL up 4.84% to 308.63. Biggest winner on the session, and yes, it's also tech, which means the rotation is selective, not sector-wide. Netflix climbs 4.66% to 77.65, quiet strength. COST adds 2.92% to 951.67. WMT up 2.78% to 111.84. Consumer staples holding their ground while growth names get hit — that's the read.
Broadcom off 2.41% to 360.45 — worth flagging, not a collapse, but that's a name that usually moves with conviction and right now it's moving the wrong way. Eli Lilly tacks on 1.86% to 1213.91, Salesforce up 1.76% to 166.11, Microsoft adds 1.62% to 390.49 — the mega-cap software names quietly green while the hardware and EV side of tech gets demolished. That split matters.
Futures: SPY sitting at negative 0.13%, essentially flat. QQQ off 1.73% — the Nasdaq is carrying the weight of the damage. IWM down 0.58%. DIA up 1.05%, which tells you exactly where the money moved today. Gold up 1.81% — risk-off signal, full stop.
VIX data unavailable. Asian markets unavailable. Nothing on the economic calendar.
Earnings names to flag: ACP, AOD, ASII, CET, CYBL, FAX. Smaller names, check your positioning if you're holding any of them.
Bottom line: Growth got hit. Staples held. Gold ran. The Dow outperformed while the Nasdaq got punished. The damage isn't uniform — software held, hardware didn't, and TSLA led everything lower by a mile. If QQQ futures are down nearly two percent heading into the session and Tesla's already given back over seven, the pre-market tone is cautious.
Numbers don't lie. People do. Trade accordingly.