S&P 500 Closes Down 0.5% as Tech Leads Broad Market Retreat
As seen on the 24/7 Wall St. homepage on September 15, 2026.
- S&P 500-0.52%
- Dow Jones Industrial Average-0.69%
- Nasdaq Composite-0.84%
Tech took the worst of it, with the Nasdaq off 0.84% and no major index escaping green. With global banks now converging on a Fed hike call, rate-sensitive growth names are the ones paying for it.
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The S&P 500 ended the session at 7,580.31, down about 0.52% from its prior close. The selling was consistent throughout the day, with the index spending the entire session in negative territory and touching its steepest losses in the early afternoon before trimming them slightly into the close.
Tech bore the sharpest pressure of the three major indexes. The Nasdaq Composite fell 0.84% on the day, while the Dow Jones Industrial Average dropped 0.69%. The breadth of the decline meant there was little shelter for investors looking to rotate into safer pockets of the large-cap market.
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Rate-sensitive growth names were at the center of the selloff, with global banks now aligning around expectations for a Federal Reserve rate hike. When borrowing costs are expected to rise, the future earnings that growth stocks depend on for their valuations become less attractive in today's dollars, making those stocks the first to reprice.
Losses deepened steadily through the first half of the session before a partial recovery attempt faded, leaving the index to close near the softer end of its intraday range. That pattern suggests sellers remained in control even as buyers briefly stepped in.