S&P 500 Drops 1.5% as Tech Selloff Widens the Gap With the Dow

As seen on the 24/7 Wall St. homepage on October 22, 2026.

CLOSING BELL

U.S. Markets

4:00pm ET

S&P 500-1.47%
Dow Jones Industrial Average-0.17%
Nasdaq Composite-2.90%

The Nasdaq shed 2.9% while the Dow lost less than 0.2%, a gap that marks this as a pure tech unwind. Money rotating out of crowded growth names has to land somewhere, and investors positioned only in megacap tech felt all of it.

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A 2.9% Nasdaq drop against a near-flat Dow means the selling hit growth and technology names, not the whole market.

Portfolios weighted toward large-cap growth absorbed the full force of the move, while value and industrial holdings felt almost nothing.

There was no meaningful intraday recovery to suggest buyers stepped in with conviction.

The open question is whether this is a one-day unwind or the start of a broader reallocation away from technology.

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APO Apollo Global Management

After-hours

4:40pm ET

$114.79

+4.42% open $109.93

A 4.42% day adds roughly $3 billion to a $67.8 billion alternative-asset manager, and the close held near the session high. Worth seeing whether the bid carries into tomorrow's open.

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4:30pm ET

FIFTHCM Select 50 ETFequity1.35%

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Biggest movers · At the close 4:10pm ET

Gainers

SPOTSpotify$582.23+10.8%
LCIDLucid$3.5+8.9%
BXBlackstone$118.69+8.3%
ACNAccenture$258.15+7.5%
NDAQNasdaq$103.09+7.3%

Losers

MRNAModerna$202.11-17.8%
COHRCoherent$207.45-12.7%
AAOIApplied Optoelectronics$68.18-11.8%
LRCXLam Research$230.24-11.7%
LITELumentum$754.19-11.3%

Moderna's 17.8% drop was the single biggest move at Tuesday's close, and four of the five worst performers were chip and photonics names. Spotify topped the winners.

NDAQ Nasdaq

After-hours

4:00pm ET

$102.79

+4.73% open $98.15

The run adds roughly $2.6 billion in market value, and it follows a Q3 earnings beat posted this morning. Moves this size are rare for a name that usually trades like a utility.

HD Home Depot

After-hours

4:00pm ET

$327.11

+4.01% open $314.51

A 4% run to $327.11 adds roughly $13 billion in market value, an outsized day for a retailer this size. Keep an eye on the stock.

TRI Thomson Reuters

After-hours

4:00pm ET

$123.59

+5.17% open $117.52

A 5.17% run to $123.60 adds roughly $2.8 billion to a $53.5 billion company, an outsized day for a name that usually trades like a utility. Whether it holds into tomorrow's open is the thing to watch.

DAL Delta Air Lines

Regular session

3:40pm ET

$79.24

+4.80% open $75.61

A 4.8% intraday run to $79.24 adds roughly $2.4 billion to a $52 billion airline in a single session, the kind of single-day move this name rarely posts. Whether it holds into the close is the tell.

LCID Lucid

Regular session

3:40pm ET

$3.49

+10.52% open $3.16

A 10.5% jump to $3.49 adds roughly $140 million to a $1.4 billion market cap, the kind of single-session swing that only happens in a sub-$4 stock. Moves this size tend to retrace fast, so the close matters more than the pop.

APH Amphenol

Regular session

3:20pm ET

$72.40

-6.53% open $77.46

A 6.5% slide to $72.40 takes roughly $12 billion off a $178.5 billion connector giant in a single session, an outsized day for a name that rarely moves like this. Watch whether it holds the $72 area into the close.

GEV GE Vernova

Regular session

3:20pm ET

$818.01

-8.75% open $896.41

An 8.75% slide to $818.01 takes roughly $19 billion off a $218 billion energy-transition heavyweight in a single session. Moves this size are rare for a name this large, and the $896.41 open is now the level to reclaim.

TT Trane Technologies

Regular session

3:20pm ET

$444.42

-4.47% open $465.23

A 4.47% slide to $444.42 takes roughly $4.4 billion off a $97.8 billion HVAC leader, an unusually heavy day for a name that normally grinds higher in small steps. Whether it holds the $465 open level is the next thing to watch.