Stock Market Update

[BRIEFING.COM] The S&P 500 and Nasdaq Composite continue to trend lower, hitting fresh session lows in recent action. 

Bank stocks found some upside momentum in recent action. The SPDR S&P Regional Banking ETF (KRE) shows a 0.4% gain now and the SPDR S&P Bank ETF (KBE) sports a 0.3% gain. Still, the financial sector shows a 0.5% decline. 

The worst performing S&P 500 sectors are the communication services (-3.5%), information technology (-3.4%), and consumer discretionary (-3.1%) sectors, clipped by sizable declines in mega cap stocks after Alphabet (GOOG 174.32, -9.28, -5.1%) and Tesla (TSLA 221.2, -25.16, -10.1%) reported relatively disappointing earnings results.