TREE NEWS reports: The S&P 500 closed down 1.2% while the tech sector fell 2.6%, with telecom, consumer discretionary and industrials each losing up to 1.7% and healthcare gaining 2.4%. The Nasdaq 100 dropped 2%, led by CoreWeave down 15.2% and Nebius down 10.3%. The Philadelphia Semiconductor Index fell 4.2% and the small-cap index lost 2.1%.
S&P 500 Falls 1.2% as Tech Slides 2.6%; Nasdaq 100 Drops 2%
AI take
The rotation is the story: healthcare's 2.4% gain alongside broad tech weakness suggests capital moving defensively rather than leaving equities outright. The scale of the semiconductor decline, at 4.2%, points to AI-infrastructure names bearing the brunt, with CoreWeave and Nebius falling hardest. Whether this stays a sector rotation or broadens into small caps, which also lost ground, is the open question.
Generated by AI for reference only.
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