TREE NEWS reports: The S&P 500 closed down 0.1%, with technology off more than 0.9% and consumer discretionary down 0.7%, while telecom gained 1.1% and energy rose 1.3%. The Nasdaq 100 fell 0.7%, as Lumentum dropped 9.8%, SanDisk 5.9%, Nebius Group 5.1%, Astera Labs 5.1%, Moderna 5%, Micron 3.6%, Intel 3.2% and Western Digital 2.4%. Meta rose 3.3% and Shopify 4.7%; the semiconductor index slid 2.6% and the memory-chip index 3.7%.
S&P 500 Ends Roughly Flat as Tech Falls; Nasdaq 100 Drops 0.7%
AI take
The divergence is the story: a flat S&P masks a sharp rotation out of tech and consumer discretionary into telecom and energy, with semiconductors and memory chips hit hardest. The damage is concentrated in specific names rather than broad, and the fact that Meta and Shopify rose while the Nasdaq 100 fell shows this is selective de-risking, not a tech-wide selloff. Whether the semiconductor and memory weakness keeps dragging the index, or the defensive rotation holds, is the open question.
Generated by AI for reference only.
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