Tech Slides as Defensive Sectors Lead the Rotation
The Nasdaq's full-point drop looks like a market rolling over. It is not. Strip out one sector and the tape tells a completely different story: the Dow (DIA) closed higher on the same session that QQQ fell a full 1.00%. That divergence is the entire article. Tuesday's session was a narrow, tech-specific pullback dressed up by headline scanners as a broad risk-off day, and the sector data underneath it says the rotation is orderly, not panicked.
Key Takeaways SPY slipped 0.29% to $763.47 while QQQ fell a full 1.00% to $706.32, a gap that traces almost entirely to Technology's 1.78% decline in XLK. Defensive sectors led the tape: Consumer Staples (XLP) gained 1.70%, Financials (XLF) rose 1.29%,…
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