In This Article:
US stock futures (ES=F, NQ=F, YM=F) are angling to recover from Monday's widespread market sell-off.
Tech was one of the hardest-hit sectors in yesterday's trading, while utilities stood to gain substantially.
Shares of EV maker Tesla (TSLA) fell 15%, wiping out its post-election gains seen since November 2024.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Welcome to Yahoo Finance's flagship show, The Morning Brief. I'm Brad Smith, alongside Madison Mills. Let's get to the three things that you need to know today.
First up, US stock futures lower this morning after the worst stock sell-off this year. All of the US major averages closed down by more than 2%, Nasdaq 100 fell 4% in its biggest one-day drop since 2022. Now down 12% from its all-time high. Sharp sell-off coming amid growing concerns on the street of a growth slowdown. As investors grapple with slowing economic growth and tariffs from the Trump administration.
Plus, on the sector front, investors rushed into defensive corners of the market. The technology sector was the hardest hit along with consumer discretionary, which are seen as more risk-prone and especially amid a weaker economy. Meanwhile, sectors seen as havens amid economic woes were stronger. Sectors like utilities and energy, the best performers amid the sell-off.
And looking at the individual market movers, Tesla shares falling 15% in their biggest one-day slide in five years, made growing concerns on Wall Street about demand for the company's electric cars. Meantime, corporate America sending warning signals. Mixed picture for airlines, which initially fell after Delta slashed its outlook on economic uncertainty. United Air said it's seen weakness in travel demand.