Tech is bleeding and Intel is leading the body count — down almost 8%.

Tech is bleeding and Intel is leading the body count — down almost 8%.

Intel down 7.89% to 92.32. That's the ugliest print on the board today. Oracle off 4.21% to 114.99 — no earnings, no announcement, just selling. AMD dropping 3.29% to 521.95, Broadcom giving back 2.69% to 381.92. Semis got hit from multiple angles today and none of it looks accidental.

Meanwhile Salesforce up 4.29% to 163.66. One stock bucking the entire sector trend. Apple up 3.53% to 333.02 — quietly the second-best performer on this list and most people aren't talking about it. Those two held the line while everything else in tech folded.

Tesla down 2.08% to 313.03. Meta down 1.80% to 595.19. Neither catastrophic, both trending the wrong direction.

Netflix up 1.74% to 70.09 — consumer streaming catching a quiet bid while semis burned. Bank of America up 1.26% to 62.05. Walmart up 0.99% to 109.47, Costco up 0.97% to 935.03. Old economy didn't just hold today — it got bought.

Macro picture: QQQ sitting at negative 1.12%. That's not noise — that's the market pricing in real tech pressure. SPY holding at plus 0.10%, DIA up 0.48%. Old economy is outperforming growth today, and the spread between those two reads loud. IWM off 0.32%. Small caps aren't joining the Dow's party. VIX at 18.58 — elevated but not panicking. Gold up 0.22%, quiet hedge.

No Asian market data tonight. No economic calendar. No earnings on deck.

The rotation signal is clear: money moved out of semis and into legacy software and consumer names selectively. Salesforce and Apple didn't catch bids by accident on a day when Intel dropped 8. Netflix, Bank of America, Walmart, Costco — that's not random. Someone is repositioning hard into defensive and consumer. Where that money lands Monday is the actual story.

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