Nvidia’s (NVDA) performance is adding pressure on the S&P 500 today, along with losses in mega cap names such Amazon (AMZN) and Microsoft (MSFT), as investors take some profit following solid gains this month.

Most of the AI-related names are selling off this afternoon with no specific news.

In other news, Bitcoin (BTC) continues to move lower as demand of spot BTC ETFs have cooled.

Nine out of eleven sectors are up today, with the only sizable loser being Technology (XLK). The S&P 500 is relatively flat while the NASDAQ Composite is down, largely to do with Technologies underperformance. The biggest winner so far today is Energy (XLE); followed by Financials (XLF), Real Estate (XLRE), Utilities (XLU), and Industrials (XLI), which are all up over 1%.

Market breadth today is positive on the NYSE. The NASDAQ Composite breadth is mixed as advancers and up volume exceed decliners and down volume; however, it is seeing more new lows than highs.