Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-1.2%), and DJIA (-0.3%) are charting a lwoer course this morning. 

There are a handful of S&P 500 sectors that trade higher this morning, though the modest gains are outweighed by weakness in mega-cap and tech stocks, which weigh on the Nasdaq Composite in particular. 

The consumer discretionary (-1.3%), communication services (-1.2%), and information technology (-1.3%) are the early laggards, holding losses comparable to that of the Vanguard Mega Cap Growth ETF (-1.3%). All of the "Magnificent Seven" stocks trade lower, with Tesla (TSLA 372.75, -7.55, -1.99%) once again underperforming. 

Software stocks are also under renewed pressure, sending the iShares GS Software ETF (-2.1%) lower. 

Meanwhile, Super Micro Computer (SMCI 22.66, -8.13, -26.41%) is the worst-performing S&P 500 stock after CNBC reported that a few employees were charged with smuggling chips into China. 

Elsewhere, the energy sector (+0.9%) outperforms as crude oil rises above its flatline, currently up $0.26 (+0.3%) to $95.81 per barrel.

The defensive consumer staples (+0.3%), health care (+0.1%), and utilities (+0.1%) also trade slightly higher amid the weakness in technology today.