Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-1.3%), and DJIA (-0.2%) are charting session lows as the market enters the final hour of the session.

Losses continue to widen across tech and select mega-cap names, which puts pressure on the major averages late in the session. The PHLX Semiconductor Index (-4.1%) is at its worst levels of the session, and in turn, so is the broader technology sector (-2.0%).

Mega-cap stocks are also at their worst levels, with the Vanguard Meg Cap Growth ETF down 1.1%. Tesla (TSLA 405.59, -16.65, -3.94%) is a notable laggard, with today's weakness following a 4.8% retreat on Friday.

The Invesco S&P 500 High Beta ETF is down 2.9%, reflecting a broader move away from higher-risk and momentum-driven areas of the market.