February 4, 2023

S&P 500 falls to the lows of the day as tech continues to weigh

Most sectors of the S&P 500 are higher today, led by banks, energy and industrials. But tech is taking a beating while healthcare and communication struggles.

The story is that mid-cap tech continues to take a beating. Many former darlings are down 50% from just a few months ago. Cathie Wood’s Ark Invest ETF, which catapulted her to super-stardom at this time last year is bleeding and in danger of falling through the 2021 lows. I wrote about her bizarre ramblings in twitter last week.

Overall, the S&P 500 is down 19 points to 4776, it reached as high as 4818 earlier, which is a record.

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