As of midday Friday, the Technology & Communications sector is the worst performing sector, down 1.6%. Key stocks include Applied Materials, Inc. (AMAT), which has dropped 8.7%, and Adobe Inc. (ADBE), which is down 4.9%. The Technology Select Sector SPDR ETF (XLK) is down 2.5% for the day but remains up 19.39% year-to-date. AMAT is up 5.52% year-to-date, while ADBE is down 15.56%.
The Services sector follows closely with a 1.4% loss, highlighted by Omnicom Group, Inc. (OMC) and Warner Bros Discovery Inc (WBD), which have lost 7.4% and 7.3%, respectively. The iShares U.S. Consumer Services ETF (IYC) is down 1.1% today, though it has gained 23.70% year-to-date. OMC is up 14.81% year-to-date, while WBD is down 19.73%.
