20 Minutes to the Close, New York Sags a Bit on Tech Selling

Right now the S&P 500 sits at 7,783.54 (-0.20%) and the Nasdaq at 26,708.79 (-0.35%), both drifting a bit lower with about 20 minutes left before the close. Tech names are getting sold off and that's what's dragging the Nasdaq down, even though weak retail sales just took some steam out of the Fed's hike expectations, so the rate-and-credit backdrop is actually pretty friendly. Compared to my last brief the Nasdaq barely moved, up just 0.04 percentage points, so nothing's really flipped here — it's just the same mild selling pressure grinding on. Korea's market wrapped yesterday (8/14) with the Kospi jumping +2.42%, but this U.S. session hasn't caught that same tailwind, and there's a clear split by sector too — energy's holding up while copper/minerals and clean energy are soft. On my sheet I'm carrying Eaton -0.3%, Isu Petasys -1.9%, Vertex -4.6%, and HD Hyundai Electric +3.3%, and with 20 minutes left I'm just watching whether this tech selling picks up any more steam.