S&P 500 Closes Down 26 Points as Tech Leads the Selling
As seen on the 24/7 Wall St. homepage on September 1, 2026.
- S&P 500-0.35%
- Dow Jones Industrial Average-0.84%
- Nasdaq Composite-1.02%
The Nasdaq's 1.02% slide was triple the S&P 500's loss, so the selling was concentrated in the megacap tech names carrying this year's gains. Rate-hike odds for September are the pressure point to track from here.
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The S&P 500 ended September 1 at 7,659.79, down roughly 0.35%, and the mild headline number masks where the real damage landed.
The Nasdaq Composite fell 1.02%, nearly triple the S&P 500's loss, pointing squarely at the megacap technology names that have driven most of this year's gains. When the index's biggest constituents absorb disproportionate selling, the broader damage to portfolios that track market-cap-weighted benchmarks is larger than the top-line percentage suggests.
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The Dow Jones Industrial Average declined 0.84%, sitting between the two other major indexes and suggesting the pressure was not uniform across sectors. Industrials and financials held up better relative to growth-oriented names.
Rate-hike odds for September are the key pressure point to monitor from here, since a shift in those expectations is what most directly threatens the valuation multiples that megacap tech trades on.