Open - AI and chips dragged the day down, I'm sitting this one out

S&P 500 opened down 0.86% and the Nasdaq down 1.20% today. AI and semiconductor names just couldn't hold up, while cloud and consumer staples kept things from getting uglier — and with exports and employment still solid, plus a friendly currency and commodity backdrop, I don't think the big picture actually cracked. I'm not holding anything right now, so today I'm just watching.