Tech got absolutely torched today while energy and consumer staples quietly collected.

Tech got absolutely torched today while energy and consumer staples quietly collected.

Oracle down 5.48%, sitting at 135.69. Sharpest drop in today's session. Intel off 5.34% at 107.08 — chips are getting no love. Broadcom down 4.35% at 360.14. AMD down 3.9% at 620.68. Nvidia down 2.94% at 230.48. That's five names in the semiconductor and infrastructure space all getting hit on the same day. QQQ down 1.34%. The rotation out of tech is not subtle.

AMZN down 2.25% at 254.06 — mega-cap tech not immune either. MSFT dropped 1.35%. CRM bucked it, up 1.44% — one of the very few software names that held green. Worth noting.

On the other side of the tape: XOM up 2.71% at 168.50. WMT up 2.22%. Energy and consumer staples catching a bid while chips bleed — that's a rotation, not a coincidence. NFLX up 2.68% at 71.57, holding its own in the carnage.

SPY off 0.42%. IWM barely moved, down 0.05%. DIA up 0.12%. The Dow holding flat while QQQ drops over a percent tells you exactly where the selling is concentrated. VIX sitting at 15.41 — elevated but not panicked. Gold up 0.43%, quiet safe-haven bid.

Nothing on the economic calendar today.

Earnings: DAL reports before the open — estimate is 1.99 per share, watch the fuel cost commentary. CLSD reports after the close, estimate negative 27 cents. HOVR before the open, estimate negative 13 cents. CCEL, HIFS, and MLGF also on deck with thinner coverage.

No Asian market data feeding into the setup tonight.

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