A deepening sell-off in chip and memory stocks dragged all four major U.S. equity indexes lower by midday Tuesday.
Money rotated defensively, with health care, real estate and utilities the only sectors firmly higher, while industrials and technology lagged.
The S&P 500 eased about 0.3% to 7,513, and the Dow Jones Industrial Average slipped 0.3% to 52,890, surrendering an earlier record-territory push.
The Nasdaq 100 fell about 1.6% to 29,237 as a memory-chip rout swept the sector.
The small-cap Russell 2000 eased about 0.4% to 2,996.
A projectile strike on an LNG carrier exiting the Strait of Hormuz sent crude higher, underscoring how quickly Middle East risk can flip the narrative. West Texas Intermediate crude rose 2.7% to about $70.41 a barrel, while Brent climbed 2.9% to roughly $74.08.
Gold slipped about 0.5% to roughly $4,143 an ounce.
Tuesday’s Performance In Major U.S. Indices
According to the Benzinga Pro platform:
Health Care Leads as Industrials and Chips Buckle
Defensives topped the leaderboard as investors sought shelter.
The memory complex bore the brunt of the selling after Samsung’s blowout quarterly profit sparked skepticism over AI-chip margins and supply-glut risk.
Tuesday’s Russell 1000 Top Gainers
Tuesday’s Russell 1000 Top Losers
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