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Nasdaq hits session lows, enters bear market territory

Yahoo Finance's Jared Blikre looks at the market action before the closing bell, sector actions in energy, Nasdaq leaders, semiconductor and chip stocks, the travel industry, and ARK ETF components.

Video Transcript

- As we saw, the major indices struggled to stay in the green that they saw earlier, fell in late trading. For more on that, let's take it over to our very own Jared Blikre for the latest.

JARED BLIKRE: That's right. And we can see the Dow just oscillating around the unchanged right here. And you can see that price action trying to make its mind about how it wants to close for the day. The NASDAQ is the worse off, just hitting session lows moments ago. So more weakness in the market for the NASDAQ, which, by the way, is in bear market territory.

Now, I want to show our heat map for our sector action for the day. And we can see financials still firmly in the lead there. That's followed by health care, staples, industrials, all of those in the green. But the standout here is energy, trading 3% to the downside. And then also tech, consumer discretionary, and communication services. All three of these house the mega caps, and we can see they're under pressure today, as well.

Alphabet down 3%. Tesla down a little bit more. Nvidia also in the same range there. Chip stocks looking fairly weak today. We're seeing-- we just went to Nvidia. Qualcomm down 7%. We did get that notice out of China that Foxconn is closing some of their plants there. Just temporarily, but all of this affecting the supply chains, and especially with some of these Apple suppliers.

I'd be remiss if we didn't check out the action in some of the Ark Innovation ETF holdings. And we can see Twilio down 5%, Shopify down almost 6%, and Palantir down 8%. Some of these stocks, though, off of their lows.

Also having a rough day of it is the travel spots-- stocks, excuse me, especially the bookers. Airbnb down 4.5%, Trip.com down 13.5%. But some of the airlines bucking the downward trend. We've got United up half a percent, American Airlines up 1.5%, and Alaska Airlines up 1.5%.

Want to take-- check-- excuse me, want to check out our leaders here. Just about nothing in the green in our sentiment index, but those [INAUDIBLE] stocks, those are the leading stocks to the downside. We also have solar stocks under pressure.