Tech is bleeding pre-market and Tesla is leading the carnage — down nearly seven and a half percent.

Tech is bleeding pre-market and Tesla is leading the carnage — down nearly seven and a half percent. This session is not for the faint.

Asian markets — no data available. Work with what we have.

Futures: SPY down 0.13. QQQ off 1.73 — that's the tell on where the pressure lives. DIA bucking it at plus 1.05. IWM down 0.58. Gold up 1.81 — money is moving somewhere safer.

Now the stocks.

Tesla down 7.49% at $393.45. Bruised. Intel off 5.25% at $120.35. Ugly. META dropping 4.9% to $582.90 — social getting hit with the rest of growth. AMD down 4.26% at $517.82. Chips are a wreck today.

Flip side — AAPL up 4.84% at $308.63. Standing alone in the wreckage. NFLX up 4.66% at $77.65. Streaming holding. COST up 2.92% at $951.67. WMT adding 2.78% at $111.84. Consumer staples and discretionary both green — rotation is happening in real time.

The read: QQQ down nearly two while DIA is positive. That's not a broad selloff. That's a tech dump with defensive rotation underneath. AAPL being the only mega-cap green is the anomaly worth watching. AVGO also in the red, off 2.41% at $360.45 — the chip wreck isn't just AMD.

No economic data today. Calendar is empty.

Earnings on deck: ACP, AOD, ASII, CET, CYBL, FAX. Smaller names. Nothing that moves the tape on its own.

VIX data unavailable — but you don't need it. Four names down four-plus percent in pre-market tells you everything the VIX would.

Numbers don't lie. People do. Trade accordingly.