Markets close lower, energy sector secures gains
Yahoo Finance's Jared Blikre breaks down the market losses heading into the closing bell, also looking at the energy sector, ARK ETF components, Chinese stocks, and semiconductors.
Video transcript
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DAVE BRIGGS: All right, we're just a few minutes away from the closing bell on this Wednesday. Let's bring in Yahoo Finance's Jared Blikre to break down the market action. What are we seeing, sir?
JARED BLIKRE: Well, we're seeing a little bit of negative price action, especially in the NASDAQ, which is down about 1 and 1/4%. Going to be the worst day in weeks here. We got a little bit of a respite from some dovish, slightly dovish FOMC minutes, but not enough to move the boat.
Want to take a look at our sector action for today. Only energy in the green, followed by utilities-- that's down slightly-- and real estate and then staples. So kind of a defensive setup here. Communication services, home of Facebook, Meta, also Alphabet taking it on the chin. That's down 2%. So are materials and consumer discretionary.
So let's take a look at some green here. This is about the only green you're going to see in terms of our heat map. Pioneer resources up 1 and 1/2%, ringing the opening bell at the New York Stock Exchange this morning. But time for some red here. We got a mixed board, Alibaba down 3%. Tencent, for its part, is up 4 and 1/2%, but jd.com down 2%.
And when you take a look at the ARK components, these have been flagging recently. Look at that. Shopify down 5%, Zoom down 6%, and as we head into the closing bell, I'm going to show you one more screen, semiconductors. Canary in the coal mine, Texas Instruments, down 3 and 1/2%.