Tech plunges as the financials sector soars

Stocks (^DJI^GSPC^IXIC) are selling off at the midday mark, with the tech (XLK) and utilities (XLU) sectors the most in the red, and energy (XLE) and financials (XLF) the most in the green. Alan Valdes, director of floor operations at Silverbearjoins us live from the New York Stock Exchange. To discuss the other big stories of the day, Jen Rogers is joined by Yahoo Finance’s Rick Newman and Nicole Sinclair, Yahoo Finance tech critic David Pogue, and Bill Smead, CEO of Smead Capital Management.

Today on Midday Movers, we’re talking about:

  • Banks pass the stress test—so is the Financial Crisis over?
  • Tech stocks plunge as financials soar
  • Blue Apron IPOs at $10 a share
  • Tax cuts are more likely if Obamacare repeal fails
  • Bill Smead: Why investors should focus on economic need, not just Amazon
  • David Pogue: What it was like to use the first iPhone 10 years ago
  • What’s next for the iPhone