Don’t quite get this

[jon-nyc]

Im sure the numbers have changed in the past 9 hours, but assuming this was an accurate snapshot at the time, it seems odd to me that the Nasdaq 100 would be down more than the S&P.

The Mag 7 make up almost ~50% of the Nasdaq 100 (and ~28% of the S&P) and they seem relatively well insulated from the trade war, though it’s not like I’ve researched the details in depth or anything.

Also car makers, lumber, etc figure much larger in S&P than the Nasdaq (I say without specifically scanning the components of the latter).

Any thoughts?

[jon-nyc]

Of course there could be some bad Mag 7 news that I’ve not heard about due to all the attention the tarrifs are getting.

[Mik]

It's said that the market is governed by perception. It could well be that the tariff uneasiness is spilling over to the market in general.

[Axtremus]

I am guessing Mag 7 holders are more nervous because Mag 7 valuations are already assuming near perfection, and here comes something that breaks that assumption.

[jon-nyc]

Idiot me was just thinking Canada for some reason. @AAPL and &TSLA reliant on China.

[jon-nyc]