Market check: S&P 500 turns positive as stocks pare losses

Yahoo Finance Live’s Akiko Fujita and Brian Cheung break down how stocks are moving in midday trading.

Video transcript

BRIAN CHEUNG: Welcome back to Yahoo Finance. Just a few minutes to the noon hour here on the East Coast. You can see that stocks are actually paring their losses.

You're looking at a year-to-date chart of the S&P 500, but we'll take what we can get, as the index is up just barely about 2 points this morning. But of course, we're taking a look at a number of other market action as well with the Dow Jones Industrial average again, Akiko, paring some of the losses that we had seen originally down 400 points. But actually we're seeing that come back a little bit so far.

AKIKO FUJITA: Yeah, the S&P 500 trading pretty flat there. But of course, we're watching it because it's sort of inching closer to that--

[INTERPOSING VOICES]

BRIAN CHEUNG: You know, there you go.

AKIKO FUJITA: Yeah.

BRIAN CHEUNG: Let's also take a look some tech stocks.

AKIKO FUJITA: --saw yesterday. Well, no, I was going to say, just given the sell-off that we saw yesterday, you know, I don't think we want to make too much of where things are trading today. Obviously, more choppiness expected, as we heard from Sylvia at the top of the show today. But tech stocks, as you said, we've been watching really closely, because they are the big heavyweights that have led the declines. Tesla up about, what? 2% there. Apple, another one of those stocks that have been hit hard on concerns about--

BRIAN CHEUNG: I think that's actually open in the green, interestingly. But [INAUDIBLE] now down 1%. But don't want to read too much into single-day action.

AKIKO FUJITA: NVIDIA.

BRIAN CHEUNG: NVIDIA--

AKIKO FUJITA: NVIDIA's another one of those.

BRIAN CHEUNG: Yeah, up 4%. Of course, we were talking earlier in the show about Cisco down 13%. One thing that we were kind of looking at, just bumming around with the touchscreen, is that the Innovation ETF-- ARK stocks are doing phenomenally well today. I mean, these are big gains. Square, up 8%. Shopify, up 12%. A lot of green across the screen. But should I hit the year-to-date button?

AKIKO FUJITA: So let's put this in context, right? I mean, it's up today. But when you consider where it has been--

BRIAN CHEUNG: Oh, no.

AKIKO FUJITA: Year to date, take a look at this. I mean, this is just--

BRIAN CHEUNG: Yeah, so--

AKIKO FUJITA: Tesla, down 31%. Roku, down 57%. Coinbase, right there.

BRIAN CHEUNG: Coinbase, 72%.

AKIKO FUJITA: Percent.

BRIAN CHEUNG: Oh, it's up today 10%, but again, if you look-- oh, that's-- sorry, that's too much. That's too much. Year to date, down 72%.