Stock Market Update

[BRIEFING.COM] The major indices continue to trade lower. The S&P 500 is down 0.5%.

Market breadth is mixed despite the negative showing at the index level. Advancers lead decliners by a 4-to-3 margin at the NYSE and decliners lead advancers by a 3-to-2 margin at the Nasdaq. 

Losses in the mega cap space have an outsized impact on index performance. The Vanguard Mega Cap Growth ETF (MGK) trades 0.8% lower, sitting on a 32.5% gain this year. Tesla (TSLA 411.59, -5.82, -1.4%), NVIDIA (NVDA 134.72, -2.78, -2.0%), and Apple (AAPL 250.48, -1.72, -0.7%) are some of the influential losers in the space after registering huge gains this year.