Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.5%), Nasdaq Composite (+0.3%), and DJIA (+0.6%) have seen their gains narrowed considerably over the past half hour as the information technology sector (+0.1%) sheds nearly all of its earlier gain.

Though most of the sector's components trade higher, and semiconductors generally still provide solid leadership, losses have widened in several of the sector's weightiest names. 

In particular, Microsoft (MSFT 444.91, -9.61, -2.11%) is a "magnificent seven" laggard, while Palantir Technologies (PLTR 163.64, -4.89, -2.90%) and Oracle (ORCL 172.42, -7.50, -4.17%) face even wider losses. 

Amazon (AMZN 228.05, -2.95, -1.28%) has also moved sharply lower, with the consumer discretionary sector (+0.3%) facing a similar retreat to that of the technology sector. 

The Vanguard Mega Cap Growth ETF is now flat after climbing 0.5% earlier in the session.