S&P 500 at Midday: Tech Leads a Broad Market Pullback
As seen on the 24/7 Wall St. homepage on September 1, 2026.
- S&P 500-0.33%
- Dow Jones Industrial Average-0.14%
- Nasdaq Composite-0.78%
Tech is carrying the whole decline at midday: the Nasdaq is off 0.78% while the Dow gives up just 0.14%, a gap that says rate-sensitive growth names are the ones repricing. If Fed hike odds keep firming, that spread is where the damage shows up first.
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The selling is not evenly distributed: the S&P 500 sits at 7,660.82 at midday, and the damage underneath the index is more concentrated than that number suggests.
The Nasdaq Composite is off 0.78% at midday, more than five times the size of the Dow's decline. That gap signals rate-sensitive growth names are absorbing the brunt of the selling.
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Buyers stepped in after the weak open but lacked the conviction to hold the bounce, and the index drifted lower again into the early afternoon.
For investors holding growth and technology positions, the spread between the Nasdaq and the Dow is the number to watch as the afternoon develops. If that gap widens further, it points to continued repricing of names most sensitive to changes in the interest rate outlook.