Tech just got taken out back and beaten — red across the board, no survivors.

Tech just got taken out back and beaten — red across the board, no survivors.

Tesla down 14.52%, closing at 319.69. That is a crater, not a dip. Google down 7.13% to 317.69 — ad revenue fears or something uglier, the sell-off didn't wait for answers. Amazon off 4.57% at 233.66. Oracle down 4.61% to 120.04. Salesforce dropped 3.72% to 156.93. Meta gave back 3.36%, still sitting at 606.10. Intel down 2.33% to 100.23. AMD off 2.29% at 539.69. Microsoft down 2.24% to 381.58.

Every name on today's board is mega-cap tech. That is not noise — that is a sector getting repriced.

But not everything bled. Eli Lilly up 1.97% to 1,185.87 — healthcare catching a bid while the growth trade unwinds. Exxon up 1.58% to 156.89. Defensives and energy held. That rotation is the actual story underneath the carnage.

Futures confirmed it. SPY off 1.23%. QQQ down 1.90% — that is the Nasdaq taking the real hit. IWM only down 0.58%, which means small caps held relatively firm. DIA off 1.00%. VIX at 18.7 — elevated but not panicked. Gold data unavailable. Asian overnight markets unavailable.

No economic data scheduled today. Calendar is clean.

Earnings this morning: American Express before the open, EPS estimate 4.45. Booz Allen Hamilton reports, est 1.51. Charter Communications hits the tape, est 10.37. Those three are the ones with teeth. ABR, CRI, and CVEO also report — CVEO is sitting on a negative estimate so watch that one specifically.

AXP is the name worth tracking into the open. Consumer spending data embedded in that print matters right now, especially with everything else bleeding.

One more thing — QQQ down nearly 2% on futures after a session where Google dropped 7 and Tesla dropped 14 is not a coincidence. Growth is getting hit from multiple angles simultaneously. The sectors that held — healthcare, energy — that tells you where money went, not just where it left.

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