Pretty much everything but tech stocks were having a tough time on Monday.
The S&P 500 was down 0.5%, and 357 stocks in the index were down on the day. The Dow was down 305 points, or 0.6%. The Nasdaq Composite was down 0.3%.
Tech was the only major S&P 500 sector that was rising. Health care, energy, materials, consumer discretionary, and communication services were all down more than 1%.
Among the Magnificent Seven stocks, only Nvidia and Microsoft were rising; Nvidia was up 2.7% while Microsoft was up 1.5%; Alphabet was down nearly 3%, while Tesla was down 3.6%; Apple was down 0.5%, while Meta was down 0.7.% Amazon.com was down 0.9%.
The top-performing strategies were momentum and risk. Small-caps were also outperforming, with the Russell 2000 up 0.1%. The rest of the market wasn’t holding up well, as the latest market rally took a pause just as the S&P 500 neared its Oct. 28 closing high.
