Stock Market Update
17-Jul-26 11:35 ET
Mega-cap selling intensifies
Dow -89.39
at 52463.58,
Nasdaq -356.44
at 25546.51,
S&P -56.40
at 7477.37
[BRIEFING.COM] The stock market is facing another session of concentrated pressure across semiconductor stocks and other large tech names today. Those losses are most evident in the tech-heavy Nasdaq Composite (-1.5%), while the S&P 500 (-0.8%) also trades firmly lower.
The PHLX Semiconductor Index is down 2.5%, extending this week's losses past 10%. The information technology sector (-1.3%) is firmly lower, though select cybersecurity names and continued resilience in Apple (AAPL 333.61, +0.35, +0.11%) somewhat cushion the losses.
Similar to yesterday's action, the communication services sector (-2.6%) holds the widest loss, with continued pressure across Meta Platforms (META 628.86, -35.68, -5.37%) and Alphabet (GOOG 346.57, -7.24, -2.05%) combining with a post-earnings slide from Netflix (NFLX 68.78, -5.56, -7.48%). The Vanguard Mega Cap Growth ETF is down 1.6%.
The broader market continues to see some rotational buying, with seven S&P 500 sectors trading higher. However, that action is not as strong as it was in previous sessions this week, as the S&P 500 Equal Weighted Index (-0.3%) moves lower today. The DJIA (-0.2%) is modestly lower, but it remains the best-performing major index both for the day and the week by a considerable margin.
