Stock Market Update

[BRIEFING.COM] The equity market continues to struggle under strong selling pressure. Decliners lead advancers by a 17-to-1 margin at the NYSE and by a better than 6-to-1 margin at the Nasdaq.

Losses in the mega cap space have an outsized impact on major indices. Apple (AAPL 195.29, -7.99, -3.9%), NVIDIA (NVDA 94.69, -7.11, -7.0%), Tesla (TSLA 242.34, -24.97, -9.4%), and Meta Platforms (META 504.13, -27.48, -5.2%) are among the biggest losers from the space.

This price action has contributed to losses in their respective sectors. The technology sector is 4.9% lower, the discretionary sector trades 4.0% below its prior close, and the communication services sector sports a 3.2% decline.