Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%) and Nasdaq Composite (-0.9%) continue to trade lower and the Dow Jones Industrial Average moved lower over the last half hour, trading fractionally higher than yesterday.

Market breadth reflects a positive skew despite index performance. Advancers lead decliners by a 2-to-1 margin at the NYSE and by a 3-to-2 margin at the Nasdaq. Also, the equal-weighted S&P 500 trades 0.1% higher. 

Outsized declines in chipmakers like NVIDIA (NVDA 132.67, -4.24, -3.1%) and Broadcom (AVGO 158.92, -5.82, -3.6%) have weighed down the broader equity market, along with losses in other mega caps. Apple (AAPL 234.89, -0.15, -0.1%), Microsoft (MSFT 424.18, -3.80, -0.9%), and Amazon.com (AMZN 206.18, -1.70, -0.8%) are among the influential names in that regard. 

The aforementioned names make up 25% of the S&P 500. They have also weighed down their respective S&P 500 sectors. The information technology sector shows the largest decline, down 1.7%, followed by the consumer discretionary sector, which sports a 0.6% loss.