Most sectors succumb to the verdict: interest-rate-sensitive plays like Utilities and Financials are harshly judged, while Tech, Communication Services and Healthcare get a reprieve
Financials .SPSY flop 2.3%. Big banks extend slide after Fed rate hike, Warsh press conference
For the week, S&P 500 banks index .SPXBK drops about 4%, KBW regional banking index .KRX loses more than 1%
Industrials .SPLRCI sag 1.5%. J.B. Hunt JBHT.O skids as higher trucking costs prompt CFO's profit warning
A bright spot, Generac GNRC.N surges after a $2.4 billion deal to supply backup generators for Amazon AMZN.O data centers
Broad market and Treasury moves
S&P 500 .SPX falls a second straight week, though it dips just 0.1% as Fed Chair Kevin Warsh takes center stage .N
Nasdaq gyrates, survives support test, but upside still capped
Though recent breadth breakdown leaves Nasdaq bulls on alert after the Dow tested a key line in the sand ahead of Fed decision
And then the S&P 500 has a bounce, not yet a breakthrough
US 10-year Treasury yield US10YT=RR finishes around 5.00% after ascending to a 19-year high ahead of the Federal Reserve's decision to hike rates US/
Tech and communication services
Tech .SPLRCT adds 1.1%. AI-related stocks including chipmakers Nvidia NVDA.O and Advanced Micro AMD.O fall on Monday after top CEOs urge slower model development amid safety worries. Optical fiber supplier Corning GLW.N is the biggest sector loser, shedding 10% on the week
This as Jefferies says AI demand remains strong, with Nvidia at the center
Semiconductor index .SOX rises 0.8%; NVDA and AMD notch weekly gains of about 2% and 8.5%, respectively
Communication Services .SPLRCL gains 1.2%. Though Netflix NFLX.O declines after Wells Fargo turns bearish, citing softer viewership, a 'messier story'
Sentiment and year-to-date context
Meanwhile, AAII bearish sentiment climbs to a 16-month high as optimism tumbles
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