S&P 500 at Midday: Tech Selloff Drags the Index Down 0.4%
As seen on the 24/7 Wall St. homepage on October 16, 2026.
- S&P 500-0.43%
- Dow Jones Industrial Average+0.48%
- Nasdaq Composite-1.08%
Money is rotating out of tech by the hour: the Nasdaq is down more than 1% while the Dow trades higher. Index-level calm hides a painful day for growth-heavy portfolios.
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Selling pressure built through the morning and accelerated at midday, pushing the S&P 500 down 33.59 points to 7,710.51.
The Nasdaq Composite is bearing the brunt, off more than 1%, while the Dow Jones Industrial Average is up roughly 0.5%. That split points to rotation out of growth and technology names and into the value-oriented stocks that make up the Dow.
For investors with portfolios tilted toward large-cap tech or high-multiple growth names, the index headline understates the damage. The S&P 500's modest decline masks a considerably rougher afternoon for anyone concentrated in the sectors the Nasdaq tracks most closely.
Keep an eye on the index into the close, where buyers defending it or sellers pressing their advantage sets the tone for the rest of the trading day.