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Tech-Led Pullback Weighs on Benchmarks as Rotation Favors Utilities and Energy
$QQQ $SPY $IWM — A sharp sell-off in chips and large-cap tech pulled the market lower Thursday: the Nasdaq-100 (QQQ) led declines while the S&P 500 (SPY) and small caps (IWM) also slipped. Sector rotation into utilities and pockets of energy and materials offset some weakness, leaving investors digesting earnings, commodity permits, and Fed signal uncertainty ahead of the next data slate.
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By StockAlpha.ai$QQQ $SPY $IWM — A sharp sell-off in chips and large-cap tech pulled the market lower Thursday: the Nasdaq-100 (QQQ) led declines while the S&P 500 (SPY) and small caps (IWM) also slipped. Sector rotation into utilities and pockets of energy and materials offset some weakness, leaving investors digesting earnings, commodity permits, and Fed signal uncertainty ahead of the next data slate.