Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.9%) and Nasdaq Composite (-0.9%) are trolling along near session lows while the Dow Jones Industrial Average drops to new lows, showing a 670 point decline now.

Some mega cap names have gone against the downside grain, but that hasn't been enough to offset broad selling interest. Apple (AAPL 245.15, +0.28, +0.1%), Microsoft (MSFT 417.11, +3.13, +0.7%), and Eli Lilly (LLY 870.75, +3.70, +0.4%) are among the winners in that respect.

The gain in LLY has contributed to the outperformance of the S&P 500 health care sector (+0.3%). The only other sector showing a gain is energy, which trades 0.3% higher amid rising oil prices ($72.87/bbl, +0.79, +1.1%).