US Markets
Tech slides as the rest of Wall Street holds the line
The Nasdaq leads the downside while defensive sectors and rate-sensitive groups carry the tape.
Wall Street finishes mixed, with the S&P 500 up 0.1% at 7411.98 and the Dow up 0.5% at 51947.25. The Nasdaq Comp. falls 0.6% to 24975.8242, and the Russell 2000 slips 0.4% to 2929.9988. The S&P stays above its 200-day moving average, but it closes below its 50-day at 7472.01.
Sector leadership is tilted away from Tech. Tech drops 1.4%, the only sector in the red, while Real Estate gains 2.2%, Materials rises 1.9%, Staples adds 1.1%, Financials climbs 0.9%, and Health advances 0.7%. Energy, Industrials, Comm Svcs, Discretionary and Utilities also finish higher, though by smaller amounts.
The stock tape is choppy underneath the index-level moves. On the most-active list, Intel falls 7.9%, Nvidia loses 0.9%, while AT&T gains 5.1%, American Airlines rises 6.8%, and Cleveland-Cliffs climbs 8.9%. Among watchlist names, Apple gains 3.5% and Salesforce rises 4.3%, but Intel, Micron, Oracle and Uber are all lower.
Options flow leans cautious. The SPY put-call ratio sits at 1.23, while QQQ’s is 1.13. That lines up with a market that keeps grinding through crosscurrents instead of breaking cleanly in one direction.