Now wonder the Technology SPDR (XLK) is getting slammed. The image below shows the technology sector in market capitalization mode on the Sector Carpet. Three of the biggest boxes are red. Google (1) is down the most, Apple (2) is down almost 2% and IBM (3) is down almost 3%. Weakness in these mega-caps is weighing on market-cap-weighted indices like the S&P 500 and Nasdaq 100.
Click this image for a live chart.