** S&P 500 .SPX loses 1.5% as trade wars and Fed chair Powell's economic growth warning weigh .N

** Dow .DJI sheds 2.7%, Nasdaq Composite .IXIC gives up 2.6%

** SPX sees death cross, but may not be as ominous as it sounds, analysts say. Can the benchmark index build back better?

** Still, Nasdaq composite takes a hit on weak chips, Powell quips

** U.S. 10-Year Treasury yield US10YT=RR, declining more than 15 bps on the week, now around 4.33%, pitching down toward the Cloud US/

** In the end, a minority of sectors battered: Technology, Consumer Discretionary and Communication Services see most damage, while Energy and defensive plays sturdy

** Tech .SPLRCT crumbles 3.7%. Apple AAPL.O, computer makers and chipmakers climb on Mon as Trump exempts some electronic items from China tariffs, and Intel INTC.O gains on sale of majority stake in Altera to private equity firm Silver Lake

But Nvidia NVDA.O slumps after flagging $5.5 bln hit related to H20 chip regulation, and Advanced Micro AMD.O drops as export curbs to hit its MI308 chip

INTC declines on Thurs after rival TSMC 2330.TW denies joint ventures talks, and after report Intel will need licenses to export AI processors to China

Semiconductor index .SOX slides 4%

Among bright spots, Hewlett Packard Enterprise HPE.N jumps on report activist investor Elliott builds $1.5 bln stake

** Communication Services .SPLRCL down 2.9%. Alphabet GOOGL.O falls after U.S. judge finds Google holds illegal ad tech monopolies

** Healthcare .SPXHC stumbles 1.2%. UnitedHealth UNH.N plunges on annual profit forecast cut, drags down sector. UNH plummets 24% on the week

On the flip side, Eli Lilly LLY.N soars as experimental weight-loss pill works as well in late-stage trial as rival Novo Nordisk's NOVOb.CO blockbuster drug Ozempic. LLY scores ~15% weekly gain

** Financials .SPSY tick down marginally. Goldman Sachs GS.N rises on Mon after Q1 profit jump as market volatility led to record rev in equities trading

Similarly, on Tues, Bank of America BAC.N gains after it beats bottom line estimates as net interest income grew and stock traders thrive, and Citigroup C.N lifts after earnings beat as trading rev leaped

For the week, S&P 500 banks index .SPXBK edges up nearly 1%, and KBW regional banking index .KRX advances almost 5%

But Global Payments GPN.N tumbles 18% on the week after ~$23 bln deal to buy Worldplay

** Energy .SPNY surges 3.2%. Sector jumps after U.S. issues new sanctions to curb Iranian oil exports, elevating supply worries O/R

** Meanwhile, individual investor bears notch a record streak

** SPX performance YTD:

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com

))