Financials lead sector gains as tech falls and Tesla tumbles
Financial stocks in the S&P 500 were posting sharp gains Friday, beating all other sectors of the U.S. equities benchmark in early afternoon trading Friday.
The S&P 500’s financials sector was up 1.8%, according to FactSet data, at last check. Industrials had the next biggest gain among sectors in the S&P 500 at 1.3%.
By contrast, information technology was down 0.1%, while Tesla Inc.’s steep tumble dragged down the consumer-discretionary sector 0.3% lower in afternoon trade. Tesla was dropping 7.8% on Friday afternoon, FactSet data show, at last check.