US Stocks Fall as Tech Drops, Consumer Defensives Gain

The Morningstar US Total Market Index fell 2.07% for the trading week ended Oct. 16, with technology stocks tumbling 6.49% while consumer defensive and energy sectors rose 5.06% and 4.58%, respectively. The S&P 500 dropped 1.95% and the Nasdaq fell 4.48%. Large-cap stocks declined 2.06%, mid-caps fell 0.9%, and small-caps dropped 1.83%. Growth stocks lost 4.35% while value stocks gained 0.96%. Among 872 covered US-listed companies, 66% rose and 34% fell. Ten-year Treasury yields declined to 5.09%, and West Texas Intermediate crude surged 11.01% to $101.75 per barrel. CoreWeave and Nebius Group were among the week's worst performers, falling 25.21% and 25.17%, respectively, while Bath & Body Works led gainers with a 16.26% rise. Upcoming events include earnings from Netflix, Meta, Tesla, and General Motors next week.