S&P 500 Closes Down 0.4% as Tech Leads a Broad Market Retreat
As seen on the 24/7 Wall St. homepage on September 9, 2026.
- S&P 500-0.39%
- Dow Jones Industrial Average-0.54%
- Nasdaq Composite-0.64%
The Nasdaq's 0.64% slide left tech trailing the broader tape again. Traders are pricing the odds of a Fed hike this month, and the highest-multiple names are the first to reprice.
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The S&P 500 closed at 7,643.8, and the index drifted lower through the middle of the session without mounting a convincing recovery into the close.
The Nasdaq Composite bore the brunt of the selling, dropping 0.64%, and that gap versus the broader S&P 500 shows the pressure sitting in higher-multiple growth and technology names most sensitive to any upward shift in rate expectations.
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Traders are repricing the odds of a Federal Reserve rate hike this month, and that recalibration is hitting the most richly valued corners of the market first.
Losses widened into the afternoon before partially recovering, so keep an eye on whether the Fed rate-hike narrative strengthens and whether tech stabilizes or extends its underperformance.