Stock Market Update

[BRIEFING.COM] The stock market opened to considerable losses this morning, with the S&P 500 (-1.5%), Nasdaq Composite (-1.7%), and DJIA (-1.5%) all retreating over 1.0% as the market braces for a potential trade war between the U.S. and the EU. Notably, the S&P 500 and Nasdaq Composite now sit in modestly negative territory for the year.

Ten S&P 500 sectors trade lower, with significant weakness across mega-cap names pushing the information technology (-1.7%), consumer discretionary (-1.7%), and communication services (-1.5%) sectors to the bottom of the leaderboard. The Vanguard Mega Cap Growth ETF is down 1.9%. 

Eight total S&P 500 sectors currently hold losses wider than 1.0%.

Meanwhile, only the energy sector (+0.5%) trades higher as the price of oil increases ($0.89) +1.5% to $60.23 per barrel.