Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.7%) trades below its 200-day moving average (5,734) after trading above and below that level last week. So far, the index has maintain a posture above that key technical level on a closing basis. 

Most stocks are participating in downside moves. Eight of the 11 S&P 500 sectors are lower with the technology (-3.3%), communication services (-3.2%), consumer discretionary (-2.6%), and financial (-1.6%) sectors showing the largest losses. The sectors house about 65% of the index by market cap. 

There's some pockets of buying in today's tape, though. The energy sector shows a 0.9% gain, along with the defensive-oriented consumer staples (+0.4%) and utilities (+0.3%) sectors.