Thursday’s S&P 500 index futures session saw heavy selling in tech and AI components drag the index lower, despite initial optimism over the government shutdown ending.

Overnight, news of a bill signing to end the shutdown sparked a quick rally towards Wednesday’s high, peaking at 6892.50. Bears soon regained control, pushing futures red. Sellers dominated at the open, and bull recovery attempts were stifled by China chip shortage reports and market participants still waiting for new macro data. 

The decline persisted through morning and afternoon, with support finally holding near last week’s close at a low of 6746. Bears probed lower as the close neared, but short-covering and bulls triggered a late, but minor rally. The session ended near the day’s low at 6760, down 115.75 handles.

With the government resuming operations, October’s PPI data was set to be released Friday, but still may be delayed, but market participants can still look forward to a few earnings reports.

Among top index components, Berkshire Hathaway Inc (NYSE: BRK.B) led as the biggest gainer for the second day, rising $10.71 or 2.13% to close at $513.11 as investors shifted to value names.

That outperformed the cash index’s 1.66% decline by over three percent. 

On the other hand, Tesla Inc (NASDAQ: TSLA) was the biggest loser, falling $28.61 or 6.64% to close at $401.99 after recalling some Powerwall batteries due to a fire hazard.