S&P 500 Closes Down 0.47% as Selling Spreads Beyond Tech
As seen on the 24/7 Wall St. homepage on August 17, 2026.
- S&P 500-0.47%
- Dow Jones Industrial Average-0.46%
- Nasdaq Composite-0.26%
Selling was broad, with the Dow dropping 244 points and only tech cushioning the damage. Traders are repricing September Fed odds while oil keeps climbing, so the next inflation reading now carries more weight than any earnings on the calendar.
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The S&P 500 ended the session at 7,749.31, and the index stayed in negative territory all day.
The Dow Jones Industrial Average fell roughly in line, dropping about 0.46%, while the Nasdaq Composite held up better as technology shares absorbed some of the broader pressure.
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Traders are repricing the odds of a Federal Reserve move in September, and rising oil prices threaten to keep inflation elevated. That puts the next inflation reading in an unusually influential position for rate-cut expectations.
Macro data is driving the market, so anyone positioned in rate-sensitive sectors or growth stocks should track the direction of oil and the incoming inflation figures closely.