S&P 500 Sectors Broadly Lower; Tech and Discretionary Buck the Trend

The breadth of the selloff matters more than the headline index move: defensive sectors like staples and health care, typically seen as havens, were among the hardest hit, suggesting the weakness was indiscriminate rather than a rotation out of risk. Tech and discretionary standing alone as gainers points to a narrow leadership profile. Whether that concentration persists or the broad-based pressure eventually catches up with those two sectors is the open question.