US Markets
Tech selloff drags stocks lower as volatility rises
The Nasdaq leads a broad pullback, while defensives and real estate hold the best footing.
U.S. stocks end the session lower, led by a tech slide. The S&P 500 falls 0.5% to 7533.77, the Nasdaq Comp. drops 1.5% to 25881.9473, the Dow Jones slips 0.2% to 52552.9688, and the Russell 2000 is nearly flat, down 0.1% to 2974.5669.
The sector tape points to a clear split. Tech loses 2.2%, Communication Services falls 0.6%, and that weakness outweighs gains in Staples, up 2.8%, Health, up 2.2%, and Real Estate, up 2.0%. Energy adds 0.9%, Utilities rise 0.6%, and Financials finish 0.3% higher.
Risk appetite also cools in derivatives and volatility gauges. The VIX climbs 6.8% to 16.73, while the 9-day measure jumps 25.4% to 13.98. SPY options show a put-call ratio of 1.1, and QQQ’s put-call ratio is 1.28, pointing to heavier downside hedging in the Nasdaq-linked ETF.
The intraday S&P 500 path is messy, not dramatic. The index starts near 7546.66, works up into the 7570 area, then drifts lower through the afternoon and finishes at 7534.62 on the intraday series, close to the 7533.77 close.