Jul. 17 at 4:23 PM
Absolute bloodbath! Here’s how the S&P 500 is holding up in today's brutal morning session!
The S&P 500 indexes plunge 1.32% right at the open to an intraday low of 7,431.26, currently trading down 0.72% at 7,479.68. Meanwhile, the VIX is spiking hard, clearing key levels to top 19.
The AI tech and semiconductor trade is facing full capitulation. Nvidia (
$NVDA) sheds 3.4% while Applied Materials (
$AMAT) craters 6.9%. On the flip side, energy (
$XLE) is leading defensive shelter as crude pushes higher. The sector rotation is violent, leaving regular charts broken.
Are you panic-selling the tech correction, or rotating heavily into commodity and defensive shelter?