Stock Market Update

[BRIEFING.COM] The major indices turned slightly lower over the last half hour, but the Dow Jones Industrial Average (+0.4%) remains near its high of the day.

Downside moves coincided with some mega caps moving sharply lower. Meta Platforms (META 592.52, -15.75, -2.6%), Amazon.com (AMZN 217.42, -1.02, -0.5%), Microsoft (MSFT 414.68, -2.51, -0.6%), and NVIDIA (NVDA 130.60, -2.63, -2.0%) participated in the deterioration, weighing down their respective S&P 500 sectors. The move in MSFT followed news that the company paused hiring in its US consulting unit as part of a cost-cutting plan, according to CNBC.

The communication services (-1.2%), information technology (-0.5%), and consumer discretionary (-0.1%) sectors are among the worst performers today.