Markets: News  

The S&P 500 is currently down 0.7% after paring its decline to 0.2% earlier today. The Dow is down 0.4% and is being weighed down by a post-earnings decline in Home Depot (HD 263.84, -12.01, -4.4%) despite beating top and bottom-line estimates. For some perspective on today's technical moves, the Philadelphia Semiconductor Index was down 9.4% from its all-time high on Feb. 16, while Tesla (TSLA 678.98, -35.17, -4.9%) was down 31.3% from its all-time high on Jan. 25. That put the chip index near correction territory and Tesla in bear market territory, providing bullish investors a ripe opportunity to buy the dip. The market isn't in the clear just yet, but the scope of those declines was presumably too hard to pass up for long-term investors or short-term traders. Overseas, the major European indices closed mixed. Germany's DAX lost 0.6%, UK's FTSE gained 0.2%, and France's CAC gained 0.2%. The Europe Stoxx 600 decreased 0.5%.