Right out of the gate $450 billion in market cap was eased in mega cap stocks.

Now the Magnificent Seven are on the cusp of slipping below the 50-day moving average.

Big selling on strong volume hints at more panic than we are accustomed to seeing.

The broad market is taking it to the chin today as all growth sectors are taking big body blows.

• Consumer Discretionary: -2.99%
• Communication Services: -3.32%
• Information Technology: -3.32% (semis -4.28%)

It’s a mistake for long term investors to sell most of these growth names, but this is the time to raise cash because of uncertainty and the market looking more vulnerable.