Stock Market Update

[BRIEFING.COM] There are only two S&P 500 sectors down more than 1.0% today. The problem for the market is that, combined, they account for just over 42% of the S&P 500's market capitalization.

That would be the information technology sector (-1.6%), which has a 32.44% market weight, and the consumer discretionary sector (-1.6%), which has a 9.79% market weight.

NVDA (NVDA 139.49, -4.10, -2.9%) and Apple (AAPL 230.31, -5.55, -2.4%) are the heavyweight drags on the information technology sector, although Enphase Energy (ENPH 80.34, -11.89, -12.9%) and Seagate Technology (STX 103.86, -8.78, -7.8%), which reported quarterly results after yesterday's close, are the biggest losers today in percentage terms.

In the consumer discretionary sector, Amazon.com (AMZN 185.66, -4.05, -2.2%) and Tesla (TSLA 215.16, -2.81, -1.3%) are the heavyweight drags, but McDonald's (MCD 297.60, -17.09, -5.4%) is the biggest loser in percentage terms followed by Marriott (MAR 257.48, -8.02, -3.0%) and Hilton (HLT 231.72, -6.41, -2.7%), which are weak on the back of Hilton's disappointing guidance.