Services and Tech Stocks Underperform in Afternoon Trading

Market Update: Services and Technology sectors are struggling, with notable declines from Meta Platforms Inc and Carnival Corp. Investors should be cautious as these sectors are significantly underperforming, potentially affecting stock prices.

Date: 18-03-2025

AI Rating: 4

Sector Performance Overview
In the afternoon trading session, the Services sector emerged as the worst performing, showing a loss of 0.9%. Within this sector, specific companies like Meta Platforms Inc (META) and Carnival Corp (CCL) recorded losses of 4.0% and 3.6%, respectively. The iShares U.S. Consumer Services ETF (IYC), which includes these companies, is also experiencing a downturn, down 1.7% on the day and 9.72% year-to-date. Notably, Meta is down 0.76% year-to-date while Carnival Corp faces a more significant downturn of 19.22% year-to-date.

Technology & Communications Sector Performance
The Technology & Communications sector also showcases weakness, with a loss of 0.9%. Super Micro Computer Inc (SMCI) and First Solar Inc (FSLR) are key laggards, down 5.0% and 3.7% respectively, while the Technology Select Sector SPDR ETF (XLK) mirrors this trend, down 1.4% for the day and 8.65% year-to-date. SMCI stands out with a significant year-to-date gain of 30.74%, whereas FSLR is down 27.32% year-to-date.

Currently, none of the sectors are witnessing positive movements, and nine sectors are down during this trading session. This general decline could instill caution among investors and could potentially lead to further downward pressure on stock prices within the affected sectors.

Stocks: META CCL SMCI FSLR