Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.9%) remains in the red with all eleven sectors holding losses, led by technology (-1.1%).

The tech sector is feeling the added weight of Apple (AAPL 196.54, -4.82, -2.4%) after President Trump said that he wants the company to shift a lot of its production to the U.S. rather than India or face a 25% tariff. Shares of Apple have risen off their lows, but they remain well behind the broader market.

Chipmakers also lag with the PHLX Semiconductor Index (-2.0%) widening this week's loss to 4.9%. However, there is some relative strength in software stocks after strong results from Autodesk (ADSK 294.04, -0.96, -0.3%) and Intuit (INTU 721.12, +56.05, +8.3%). The iShares Expanded Tech-Software Sector ETF (IGV 102.15 -0.56, -0.6%) hovers near yesterday's low after trimming its early loss.