Technology & Communications and Industrial sectors lead losses, with notable stocks like AMAT and GEV down significantly.

From Nasdaq: 2024-07-17 14:54:10

In afternoon trading, Technology & Communications stocks lead losses with a 2.2% decline. Applied Materials, Inc (AMAT) and Advanced Micro Devices Inc (AMD) are down 8.9% and 8.8%, respectively. The Technology Select Sector SPDR ETF (XLK) follows the sector, down 3.6% for the day but up 17.32% year-to-date.

The Industrial sector is the next worst performer, showing a 1.0% loss. GE Vernova Inc (GEV) and Lam Research Corp (LRCX) are notable stocks with losses of 9.1% and 8.8%. The Industrial Select Sector SPDR ETF (XLI) tracks the sector, down 1.1% midday but up 11.97% year-to-date.

S&P 500 components show mixed results with five sectors up and four down on Wednesday. Consumer Products and Utilities lead the gainers with a 0.8% increase, while Technology & Communications stands out as the worst performing sector with a 2.2% loss.



Read more at Nasdaq: Wednesday Sector Laggards: Technology & Communications, Industrial