S&P 500 Closes Down 0.5% as Nasdaq Leads the Selling Into Amazon Earnings
As seen on the 24/7 Wall St. homepage on October 29, 2026.
- S&P 500-0.49%
- Dow Jones Industrial Average-0.51%
- Nasdaq Composite-1.57%
The Nasdaq's 1.57% drop was triple the Dow's, concentrating the selling in tech and growth. Amazon reports after the bell with that gap already set.
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The S&P 500 slipped 37.74 points to close at 7,706.63, spending most of the day in negative territory before a modest recovery near the bell.
Tech and growth stocks took the brunt of it, with the Nasdaq Composite falling 1.57%, roughly triple the Dow Jones Industrial Average's decline. That divergence points to weakness targeted at the higher-valuation corner of equities.
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The timing matters because Amazon was scheduled to report earnings after the close, with the Nasdaq already carrying that 1.57% deficit into the announcement. Investors in growth names walked into an earnings report with less cushion than they had the day before, sharpening the reaction to Amazon's results in either direction.
The Dow's comparatively mild 0.5% loss underscores that more defensive and economically sensitive stocks held up considerably better through the session. For investors tracking the health of the broader market, the gap between the Nasdaq and the Dow is worth keeping in mind as after-hours trading unfolds around Amazon's numbers.