Stock Market Update
14-Oct-25 10:05 ET
Mega-caps lag as China tensions escalate
Dow -368.96
at 45698.41,
Nasdaq -339.39
at 22355.24,
S&P -64.10
at 6590.61
[BRIEFING.COM] The S&P 500 (-1.0%), Nasdaq Composite (-1.5%), and DJIA (-0.8%) have given back the bulk of yesterday's gains as the broader market retreats amid escalating trade tensions with China.
Mega-cap tech and semiconductor names face the widest losses so far after driving yesterday's advance.
NVIDIA (NVDA 181.24, -7.08, -3.76%) and Tesla (TSLA 421.79, -14.11, -3.24%) are the worst-performing of the "magnificent seven" names, though all currently sit in negative territory.
As a result of the mega-cap weakness, the information technology (-2.0%), consumer discretionary (-1.5%), and communication services (-0.8%) sectors face the widest early losses.
The PHLX Semiconductor Index is down 2.2% in the early going.
The defensive consumer staples (+0.6%) and utilities (+0.4%) sectors hold modest gains, while the real estate sector (+0.3%) also sits in positive territory.
Despite a large batch of major bank names beating earnings expectations before the open, the financials sector (-0.4%) holds a modest loss as several stocks face some "sell the news" pressure. Wells Fargo (WFC 81.16, +2.24, +2.83%) is a notable exception, capturing a nice gain after an earnings and revenue beat.
