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Risky Sectors Are Underperforming Ahead of Big Tech Earnings

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Wall Street turned back to the risk-off playbook amid a flood of murky economic data on Wednesday.

With the S&P 500 down 0.9%, only 140 stocks in the index were rising. At the sector level, only consumer staples and health care were holding up. Consumer discretionary was the biggest laggard among the major S&P 500 sectors.

The Dow was down 220 points, or 0.5%. Its top stocks included telecoms and healthcare firms, among other safer stocks. On the flip side, the tech-heavy Nasdaq Composite was down 1.3%.

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