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Nasdaq hits session lows, megacap stocks among biggest market laggards

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Yahoo Finance's Jared Blikre looks at how stocks are faring into the close, and what's putting so much pressure on markets today.

Video transcript

RACHELLE AKUFFO: We're just minutes away from the closing bell, as the major indices accelerate their losses. Let's take it over to Jared Blikre at the interactive. Jared.

JARED BLIKRE: That's right. We have the NASDAQ at session lows right now, down almost 3%. You can see we are right at the bottom edge of that screen. And let's take a look inside the NASDAQ 100. That is where we're seeing most of the carnage today, especially in the mega caps. You're going to note that Amazon down over 5%. So is Nvidia. Tesla over-- excuse me, down almost 5%. Alphabet and Microsoft down 3%, just to name a few.

And looking at some of the standouts here, a lot of carnage not only in Chinese stocks-- and you can see a few winners here-- but also the ARK Innovation component. So that which was getting hit the most this year is getting hit again today. You can see Shopify down 6%. Zoom down nearly 6%. Teladoc down 6% as well. Not looking any better in the software sector. A lot of those names reflected in the NASDAQ 100. Salesforce is down about 5%. Splunk down nearly 4 and 1/2%. Datadog down 7 and 1/2%.

But I will show you a sea of green here. Here's our energy heat map. And you can see just a few red names down in the lower right. But for the most part, seeing a lot of gains here. Shell, Exxon, excuse me, up over 2%. And when we take a look at the sector action, of course, energy the only one in the green. The three mega cap sectors sunk into the red. Consumer discretionary the worst off-- that is down 4%. And just take a look at the year to date chart as we head into the closing bell, down 31%. And a very similar story for many other of these sectors.

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