- The Technology Select Sector SPDR Fund (NYSEARCA:XLK) is down 1.1%. S&P 500 IT Index is down 1.2%. The tech heavy Nasdaq 100 drops 1% and the Philadelphia Semiconductor Index is down 0.5%.
- Movers with no clear catalysts: (XRX +1.9%), (DBD -0.5%), (KOPN +2.4%), (SYMC +1%).
- Internet and Software stocks are feeling the most pressure with Netflix (NASDAQ:NFLX) -2.2% down ahead of earnings, Adobe (NASDAQ:ADBE) -3.3% down on its event day, and Hortonworks -3.4% and Cloudera -3.1% pulling back from their post-merger announcement gains. Apple (NASDAQ:AAPL) -2.1% is also weighing down FAANG after a negative analyst note this morning about Chinese demand.
- Related Internet and Software ETFs: FDN, IGV, PSJ, XSW, XWEB, FNGD, FNGU
- Top tech stories this morning:
- Previously: Adobe MAX conference starts today (Oct. 15)
- Previously: Goldman sees "rapidly slowing" iPhone demand in China (Oct. 15)
- Previously: High-flying PTs on Netflix reeled in (Oct. 15)
- Previously: The creation of L3 Harris Technologies (Oct. 15)
- Now read: Technology And Telecom Dashboard - Update
Original article