Data-provider stocks were some of the worst performers in market Tuesday, but other sectors and stocks fared better.
The decline in U.S. equities centered largely on the financial data sector following news that Anthropic has introduced new AI-driven tools. A pair of S&P indexes that track software, financial-data and exchange stocks lost a combined total of around $300 billion in market value
The Nasdaq composite was hit particularly hard by the decline, falling 1.4% on the day. Several software companies affected by disappointing Microsoft earnings last week, including Atlassian, Datadog and Intuit, fell at least 7%. Other big tech stocks from Nvidia to Broadcom and Oracle struggled. The S&P 500 tech sector fell 2.2%.
Not all tech stocks dropped, however. Western Digital gained 7.4%, while Palantir rose 6.8%.
Other indexes suffered more moderate losses. The S&P 500 fell 0.8% on the day, while the Dow Jones Industrial Average dropped by 0.3%.
Other corners of the market fared better, with five of 11 sectors in the S&P posting gains on the day. The index's energy sector finished the day up 3.3%, driven by heavyweights like Exxon Mobil, Chevron and ConocoPhillips. The materials sector was up 2%.
