S&P 500 Drops 1.6% at Midday While Nasdaq Leads the Selloff
As seen on the 24/7 Wall St. homepage on October 30, 2026.
- S&P 500-1.57%
- Dow Jones Industrial Average-0.60%
- Nasdaq Composite-2.42%
The Nasdaq is down 2.4% at midday, four times the Dow's decline, so anything overweight megacap tech is carrying the entire loss today. Index-level calm hides how narrow this selloff is.
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The S&P 500 is down about 121 points at midday, and the index-level number understates where the pain is concentrated.
The Nasdaq Composite is off 2.4% on the day, roughly four times the Dow Jones Industrial Average's decline, with selling hitting high-growth, large-cap technology names specifically.
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Portfolios heavy in megacap tech absorb the full force of the session while value-oriented and dividend-weighted holdings hold up comparatively well. A concentrated growth tilt is having a very different afternoon than the headline index implies.
The Dow has tracked a shallower version of the same path all session, so the gap between the two is consistent rather than a sudden late move.