Stock Market Update

[BRIEFING.COM] The major averages continue to trade lower at midday, facing pressure from broad weakness and poor mega-cap performances. 

The financials sector (-2.3%) is now at the bottom of today's leaderboard. 

The sector has faced pressure this week amid fears of AI disruption across the financial services industry. 

Additionally, Robinhood Markets (HOOD 71.24, -6.73, -8.64%) continues to face pressure after its earnings report, with today's weakness nearly identical to yesterday's loss. Lingering weakness in Bitcoin accentuates the weakness and sends Coinbase Global (COIN 140.30, -12.90, -8.42%) lower as well. 

Elsewhere in the sector, major banking names are posting poor performances, with Morgan Stanley (MS 167.00, -9.68, -5.48%), Citigroup (C 111.50, -5.89, -5.02%), and Goldman Sachs (GS 910.23, -34.36, -3.64%) among the notable decliners.