The decline in U.S. equities centered largely on the financial data sector following news that Anthropichas introduced new AI-driven tools. A pair of SP indexes that track software, financial-data and exchange stockslost a combined total of around $300 billionin market value

The Nasdaq composite was hit particularly hard by the decline, falling 1.4% on the day. Several software companies affected by disappointing Microsoft earnings last week, including Atlassian, Datadog and Intuit, fell at least 7%. Other big tech stocks from Nvidia to Broadcom and Oracle struggled. The SP 500 tech sector fell 2.2%.

Not all tech stocks dropped, however. Western Digital gained 7.4%, while Palantir rose 6.8%.

Other indexes suffered more moderate losses. The SP 500 fell 0.8% on the day, while the Dow Jones Industrial Average dropped by 0.3%.

Other corners of the market fared better, with five of 11 sectors in the SP posting gains on the day. The indexs energy sector finished the day up 3.3%, driven by heavyweights like Exxon Mobil, Chevron and ConocoPhillips. The materials sector was up 2%.