Stocks are down today. Lots of them.

All 11 of the S&P 500’s sectors were in retreat Thursday morning, with several of them off more than 1%. One, real estate, was down more than 2%, with utilities and consumer discretionary not far behind. Comparatively speculative stocks like Broadcom ( AVGO ), Tesla ( TSLA ), and Palantir ( PLTR ) were leading the decliners.

All told, the benchmark index was recently off about 0.9%. (You can read our daily markets blog here .) Meanwhile, in the Dow, all but a handful of the index’s 30 components were recently in the red.

Concerns about Trump administration trade policy and the U.S. economy —a closely watched monthly jobs report is due tomorrow morning—are weighing on investors’ minds as they parse the tail end of earnings season for clues to the health of big American corporations. A Federal Reserve report released yesterday indicated uncertainty about Trump administration trade policies among business leaders.

There were some notable gainers in the S&P 500 this morning, among them grocer Kroger ( KR ) and Dollar General ( DG ). The sector in which they’re counted, consumer staples, was recently in the red, though less than most.

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