Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) and Nasdaq Composite (-0.3%) captured new record highs shortly after the open before a broad-based retreat sent the major averages lower. 

The DJIA (-0.3%) holds the widest loss among the major averages, while the small-cap Russell 2000 (-0.4%) and S&P Mid Cap 400 (-0.7%) move lower amid today's risk-off sentiment. 

Sector strength has varied throughout the session, with six S&P 500 sectors currently holding losses. The consumer discretionary sector (-1.1%) holds the widest losses, bearing the brunt of today's mega-cap weakness, which sends the Vanguard Mega Cap Growth ETF 0.2% lower. 

That loss would undoubtedly be much wider if not for NVIDIA's (NVDA 194.21, +5.10, +2.70%) push to new record highs, which, along with strength in Oracle (ORCL 298.47, +9.84, +3.41%), keeps the information technology sector (+0.1%) in positive territory despite the vast majority of its components trading lower.

Elsewhere, the defensive consumer staples (+0.3%), health care (+0.2%), and utilities (+0.1%) sectors continue to hold modest gains, while the real estate sector (+0.1%) recently moved above its flatline. 

Decliners outpace advancers by a greater than 2-to-1 ratio on the NYSE and a roughly 5-to-3 margin on the NASDAQ.