US losses mount as chip stocks suffer- check out the S+P 500

Although you might expect all the big tech names to be most relevant to the Nasdaq 100, many of them are also quoted on the S+P 500 and that index is being dragged lower by the Nasdaq anyway. It is the same for the Dow Jones right now too and the likes, of Intel, AMD and NVDA are all leading the losses stateside. That has sent the Nasdaq 100 down even lower than as at the last update here. The index has not traded as low as 27,700 and that is a far cry from the earlier highs seen in the futures ahead of the opening. It is a very similar story for the S+P 500, which was priced to reopen today as high as 7,645. 

Well, it did not open anywhere near that level (reopened at 7,616.85) and has since fallen back very close to the 7,500 handle and so unless something good happens it looks like we are reverting to trend as the weekend looms. In case you want to know what that trend is folks, it is not a higher one for your guide. The S+P 500 is right now at 7,507