Stock Market Update

[BRIEFING.COM] Things don't look too great today at the headline level for the major indices, all of which are lower, plagued by losses in the semiconductor stocks and pockets of weakness in the mega-cap space.

Meta Platforms (META 548.82, -20.15, -3.54%) is among the notable mega-cap laggards, with opening statements being heard today in a case filed by 29 state attorneys general that, according to Bloomberg, alleges the company's Facebook and Instagram services were designed in a way "to encourage compulsive use among young users."

It is thought that an adverse ruling could possibly lead to a penalty up to as much as $1.4 trillion.

Elsewhere, things aren't as bad. Breadth is negative at the NYSE and Nasdaq, yet the equal-weighted S&P 500 is flat for the session, aided in particular by gains in the health care (+1.6%), energy (+1.5%), and consumer staples (+1.3%) sectors.