Declining semiconductor stocks drag markets lower

Yahoo Finance Live anchor Seana Smith looks at which stocks are moving markets in the final hours of trading.

Video Transcript

- Hey there, Dave. Let's take a look at today's action. And once again, we are seeing losses across the board, the S&P off nearly 1/2 of a down for the fourth day in a row. The NASDAQ 100 also moving to the downside, off just about 1%.

Dave, you mentioned the losses that we're seeing in some of the semiconductors and some of those chip names, and that is what's really driving today's action. Taking a look at the Philly Semiconductor Index, off just about 4 and 1/2 percent. A lot of that has to do with the warning that we got out from Micron earlier today.

So digging in to some of those names and the losses that we're seeing across the board, pulling up the semi names, Micron a leader to the downside. But we're seeing the ripple effect here across the industry. Nvidia, Taiwan Semiconductors, AMAT, AMD here among the losers in today's action.

Yesterday we were keeping a close eye on the meme trade Bed Bath & Beyond picking up some steam, also AMC, GameStop. Today a very different story. You can see GameStop off just about 6%, AMC off nearly 6%. Bed Bath & Beyond on track to snap the longest winning streak that it has had in 15 years.

Let's take a look at the sector action very quickly. We've talked about what's not working in today's trading action, but what is, is energy. Energy leading to the upside, Rochelle, up just about 1 and 1/2 percent, followed by utilities and real estate.