S&P 500 Sectors Decline Amid Big Tech Stock Slide
Friday, 6 September 2024, 11:07
S&P 500 Sectors in Decline
The S&P 500 index's 11 sectors were all falling Friday afternoon, heavily impacted by a sharp decline in Big Tech stocks. The biggest drops occurred in communication services, information technology, and consumer discretionary sectors. Shares of megacap companies, including Nvidia Corp., Tesla Inc., and Alphabet Inc., are sliding according to the latest data from FactSet.
Impact of Big Tech on S&P 500
- Tesla: Dropping almost 6%
- Nvidia: Falling nearly 4%
- Alphabet: Declining over 3%
The overall S&P 500 index is trading 1.7% lower on Friday, with significant pressure from:
- 2.7% drop in the communication services sector
- 2.5% fall in technology
- 2.2% slide in consumer discretionary
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.