September isn't getting off to a good start. Since its intraday peak at 10:07 AM ET, the S&P 500 is down 2.70%. We calculated sector performance over the same time to see which areas of the market are leading it lower. As shown below, Financials are down the most with a decline of 4.03%, followed by Materials (-3.54%), Consumer Discretionary (-2.95%), and Industrials (-2.81%). Utilities have held up the best intraday, but the sector is still down more than 1.01% since 10:07. The S&P 500 is now just a point above the 1,000 level, and if the downtrend continues intraday, we'll be in the 900s again very soon.