Nasdaq hits session lows, megacap stocks among biggest market laggards

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.