S&P 500 Closes Lower as Tech Leads a Broad Market Retreat
As seen on the 24/7 Wall St. homepage on November 10, 2026.
- S&P 500-0.34%
- Dow Jones Industrial Average-0.20%
- Nasdaq Composite-0.58%
Tech took the brunt of it again: the Nasdaq's 0.58% slide was nearly triple the Dow's loss, a split that keeps widening as hotter inflation data pushes December rate hike odds higher. Growth multiples are the first thing to crack if yields keep climbing.
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The S&P 500 settled at 7,524.25, and the selling deepened through the afternoon before buyers trimmed part of the damage into the close.
The Nasdaq Composite bore the worst of it, sliding 0.58%, while the Dow Jones Industrial Average held up better. The pressure is concentrated in the higher-multiple, rate-sensitive names that dominate the Nasdaq.
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The catalyst is hotter than expected inflation data pushing the odds of a December rate hike higher. Rising yields hit growth stocks hardest because their valuations depend on discounting future earnings, and a higher discount rate compresses those multiples quickly.
Investors ignoring this split between indexes are missing a regime signal. If yields keep climbing, the multiple compression already underway in tech names persists, and the modest headline loss in the S&P 500 flatters what is happening beneath the surface in growth.