Nasdaq and growth stocks hit hard
The major indices begin the session in negative territory, with technology and growth stocks leading the market lower in early action. The Nasdaq Composite is down 2.8%, the S&P 500 is down 1.0%, and the Dow Jones Industrial Average is down 0.4%.  The information technology (-2.2%) and consumer discretionary (-2.8%) sectors are getting hit the hardest, featuring sharp losses in Tesla (TSLA 643.56, -70.73, -9.9%) and Apple (AAPL 121.72, -4.28, -3.3%). Conversely, the defensive-oriented utilities (+0.6%), real estate (+0.4%), and consumer staples (+0.5%) sectors sport respectable gains. The 10-yr yield is up one basis point to 1.37%, and the 2-yr yield is flat at 0.11%. The U.S. Dollar Index is up 0.2% to 90.18. WTI crude futures are down 1.2% to $60.98/bbl.