Tech is getting smoked pre-market and Netflix is leading the body count.

Tech is getting smoked pre-market and Netflix is leading the body count.

Netflix down 7.26%, sitting at 68.95. That's the headline. Meta down 2.79% at 646. Tesla off 2.61% at 380.84. Nvidia down 2.21% at 202.81. Google down 2.17% at 346.77. Intel down 2% at 95.04. Microsoft down 1.81% at 393.82. One green name in the bunch — Oracle up 1.77% at 126.41. Draw your own conclusions.

Futures confirm the pressure. SPY down 0.99%. QQQ down 1.5% — tech leads the selling, tech absorbs the damage. IWM only off 0.52%, DIA down 0.77%. Small caps and industrials holding relatively better. VIX at 18.77 — not panic, but not calm either. Gold up 0.83%, doing what gold does when equity confidence wobbles.

Asian overnight data unavailable.

No economic calendar today. Clean tape, no macro catalysts to lean on or hide behind.

Earnings on deck: AGNC reports after the close, EPS estimate sitting at 38.8 cents — mortgage REIT in a rate-sensitive environment, watch how it reads the room. AMC reports before the open, estimate negative 7.7 cents — still bleeding. ALZN before the open, estimate negative 68 cents. ADMT, AUBN, and AUSI also reporting, no consensus estimates in hand.

One read on the tape: this isn't random rotation. Eight of eight names in the red, QQQ futures leading the drop, VIX creeping — that's coordinated risk-off. Oracle bucking it with a 1.77% gain is notable. Everything else is in line formation on the way down.

No scheduled economic data means price action owns the session. Watch the open. Watch if QQQ finds a floor or accelerates.

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