Stock Market Update

[BRIEFING.COM] The markets are reeling, the S&P 500 (-1.07%) near lows of the day, amid reports that Iran has commenced firing projectiles into Israeli airspace.

Briefly, S&P 500 constituents Monolithic Power (MPWR 675.02, -43.55, -6.06%), Apollo Global Management (APO 131.53, -6.58, -4.76%), and PayPal (PYPL 71.18, -3.63, -4.85%) pepper the bottom of the standings. MPWR, along with fellow semiconductor stocks, weaken on Friday amid profit taking in high-beta names following a strong run. Meanwhile, China's continued dominance in rare earths highlights lingering supply chain risks that could weigh on the sector longer-term. For its part, PYPL's weakness reflects fears that it could lose a slice of future payment volume to blockchain-based alternatives.

Meanwhile, CF Industries (CF 99.68, +5.85, +6.23%) is one of today's better performers.