S&P 500 Slips at Midday as Nasdaq Drags Tech Lower
As seen on the 24/7 Wall St. homepage on October 29, 2026.
- S&P 500-0.27%
- Dow Jones Industrial Average-0.27%
- Nasdaq Composite-1.17%
Megacap tech is carrying the damage alone at midday: the Nasdaq is off 1.17% while the broader market holds within a quarter point of yesterday's close. Owning the index is cushioning what concentrated tech books are feeling.
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The S&P 500 is down roughly 0.27% at midday, a modest slip that understates where the selling is actually landing.
The pressure is concentrated in technology, with the Nasdaq Composite off 1.17% on the session, more than four times the S&P 500's decline.
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The Dow Jones Industrial Average is down about 0.27%, roughly in step with the S&P 500, implying value and defensive sectors are absorbing capital rotating away from megacap technology.
Diversified index holders can treat today as noise, but concentrated large-cap tech exposure is taking meaningfully more damage than the headline number suggests.