Dow industrial average leads US equities lower
The Dow industrial average and Russell 2000 led a decline in US equities.
The decline was driven by a broad tech and growth selloff, with AI/cloud names such as Snowflake, Datadog, and IBM down 6–7%.
Defensives and energy names, including Walmart, Amgen, and Chevron, held up, while semis and legacy tech led the winners, with SanDisk, Western Digital, and Intel surging.