Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) and Nasdaq Composite (-0.2%) captured new record highs shortly after the open, before a pickup in selling activity among some of the market's largest names sent the indices lower. Mixed sector strength kept the DJIA (-0.3%) above its baseline for longer than its peers, but it too now holds a modest loss.

The consumer discretionary sector (-1.1%) faces the widest loss, with Tesla (TSLA 431.50, -7.19, -1.64%) trading lower after Reuters reported that it is being investigated for alleged full self-driving violations.

Weakness across other mega-cap names pushes the Vanguard Mega Cap Growth ETF to a 0.2% loss, and the S&P 500 Equal Weighted Index (+0.1%) is outperforming the market-weighted S&P 500 (-0.2%).

NVIDIA (NVDA 194.42, +5.31, +2.81%) is a key exception to the mega-cap weakness, capturing fresh record highs and keeping the information technology sector (+0.1%) in positive territory despite a vast majority of its components trading lower.