Stock Market Update

[BRIEFING.COM] The market is trading near session highs with sharp declines. 

Only about 30 stocks in the S&P 500 are trading higher. Kellanova (K 70.94, +7.96, +12.6%) is the top performer from the group after reports that Mars is mulling an acquisition of the snack maker. ON Semiconductor (ON 70.61, +2.66, +3.9%) is another winning standout, going against the grain in the semiconductor space. 

Other chipmakers are sharply lower. NVIDIA (NVDA 101.72, -5.58, -5.3%) is an influential laggard in that respect. The PHLX Semiconductor Index (SOX) is down 1.3%.