Stock Market Update

[BRIEFING.COM] The stock market opened lower, pressured by losses in the mega cap space and rising market rates. The S&P 500 shows a 0.2% decline and the Nasdaq Composite trades 0.3% below its prior close. 

NVIDIA (NVDA 138.81, -1.40, -1.0%), Microsoft (MSFT 438.15, -1.18, -0.3%), and Amazon.com (AMZN 227.37, -1.69, -0.7%), which make up nearly 20% of the S&P 500, are among the influential losers so far. The Vanguard Mega Cap Growth ETF (MGK) is 0.4% lower.

Nine S&P 500 sectors are in the red with consumer discretionary (-0.5%) and information technology (-0.4%) showing the largest declines.

The 10-yr yield is four basis points higher at 4.63% and the 2-yr yield is two basis points higher at 4.36%.