Stock Market Update

[BRIEFING.COM] The major averages remain firmly lower at midday as losses continue to widen across tech names amid mixed strength in the broader market. 

While the index-level pullback is largely attributed to mega-cap tech weakness in the information technology (-2.0%) and communication services (-1.1%) sectors, the industrials sector (-1.2%) also holds a considerably wide loss. 

GE Vernova (GEV 636.43, -49.79, -7.26%) is the worst-performing S&P 500 name today, while Dow component Caterpillar (CAT 558.84, -30.08, -5.11%) also retreats. 

The sector faces weakness from engineering and construction names such as EMCOR Group (EME 596.14, -28.42, -4.55%) and Quanta Services (PWR 419.30, -19.20, -4.38%).