Semis got hit with a pipe today and they dragged everything down with them.

Semis got hit with a pipe today and they dragged everything down with them.

AMD down 5.51%, closing at 429.56. Earnings hangover. Intel down 5.12% at 81.88 — same sector, same pain. Nvidia dropped 3.55% to 190.01. Three chip names bleeding in unison — that's not coincidence, that's a sector repricing.

One bright spot. Salesforce up 3.79% to 188.38. CRM holding green while everything else drowned. Software diverging from hardware. Watch that gap.

JPMorgan down 3.53% at 344.71. Banks didn't get a pass today. BAC off 2.48% to 61.07. Financials took a clean shot to the jaw.

Tesla down 2.97% to 298.32. Broadcom dropped 2.78% to 370.32. Risk-off hit everything with a heartbeat.

Exxon up 2.42% to 156.75. Energy was the only other sector holding a bid today — while tech collapsed, oil names quietly caught a floor. That rotation is worth tracking.

Futures confirm the damage. SPY closed down 1.54%. QQQ down 2.04% — tech led this sell-off, not macro. IWM down 1.64%. DIA down 2.18%. Broad-based. No corner of the market escaped clean.

VIX at 20.66. Not panic territory, but elevated. Traders are hedging. Gold data unavailable tonight.

No economic calendar tomorrow. Asian markets data unavailable. You go into Friday morning with no catalyst relief on the calendar — price action owns the session.

Earnings on deck: ABBV before the open, consensus at 3.67. AutoNation reports too, est 5.66 — watch that against the consumer spending read. Ares Capital at 1.32. BCPC at 1.42. ABR est 0.05 — low bar. AU reports with an est of 2.25.

The story today is simple. Semis cracked, banks followed, energy quietly caught a bid, and only software held. QQQ down two percent while Salesforce closed green — that's the only number worth sleeping on tonight.

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