Stock Market Update

[BRIEFING.COM] The S&P 500 currently trades lower by 1.6% amid a lack of buying conviction today. 

Looking at the widely-held FAANG stocks shows Facebook (FB 181.33, -4.07, -2.2%), Apple (AAPL 178.45, -4.33, -2.3%), Amazon (AMZN 1809.00, -51.32, -2.8%), and Netflix (NFLX 349.44, -10.29, -2.9%) trading lower with losses near 2.5%. Alphabet (GOOG 1130.28, -21.14) is down 1.8%. 

Semiconductor stocks are getting hit, too, evidenced by the 2.3% decline in the Philadelphia Semiconductor Index. 

Separately, the CBOE Volatility Index has climbed 2.8 points, or 19.1%, to 17.56, reflecting increased hedging interest against further downside.