Nasdaq at -1.63%, and the New York afternoon is sinking deeper
New York is at 14:10 ET on the 22nd, with 1 hour 50 minutes left to the close. The S&P 500 sits at 7,649.66, down 0.82%, and the Nasdaq at 25,993.14, down 1.63%. The slide is deeper than at the last brief (01:40), and that gap is what I care about this round.
| Index | Level | Change | vs. last brief |
|---|---|---|---|
| S&P 500 | 7,649.66 | -0.82% | -0.15%p |
| Nasdaq | 25,993.14 | -1.63% | -0.39%p |
Worry has crept into tech valuations this afternoon
The sector map explains why the Nasdaq is dropping harder. Consumer staples and healthcare are holding up while AI and semiconductors are weak. The news ran the same way: Apple was cast as a Wall Street refuge amid AI-spending worries, and the dollar-yen fell sharply on risk aversion. To me it looks like the market is re-pricing the price tags on tech first. The won is at 1,323.94 per dollar (-0.46%) and the dollar index at 101.73 (-0.25%), so a softer dollar keeps the currency side quiet.
The last Korean session (10/22 close) is already settled: KOSPI -3.52%, KOSDAQ -3.62%. The S&P 500's -0.82% is still too polite to call a straight carry-over of that mood, though the Nasdaq rhymes with it.
My disclosed holdings stand at PepsiCo Inc. +5.1%, Microsoft +32.5%, NVIDIA Corporation -0.5% and Freeport-McMoRan Inc. -3.1%. Those are unrealized gains and losses, not today's moves.
What I'll be watching into the close
Over the next 1 hour 50 minutes I'm watching two things: whether the Nasdaq's -1.63% widens or gets pulled back, and whether the AI and semiconductor weakness spreads across the whole S&P 500 or the defense in staples and healthcare holds. This is a note from a paper portfolio, not investment advice.