Weak mega caps, aside from NVIDIA (NVDA 482.20, +10.95, +2.3%), are having an outsized influence on index losses, but many stocks rolled over as the market declined. The Vanguard Mega Cap Growth ETF (MGK), which had been up as much as 0.9% at its high, is down 0.7%. The Invesco S&P 500 Equal Weight ETF (RSP), which had been up as much as 0.6% earlier, is up 0.1% now.
Philadelphia Fed President Patrick Harker (FOMC voter) said in a CNBC interview that he wants to see two more weeks of data, but right now, he thinks Fed has “done enough.”