The S&P 500 closed at 7,623.68, down 39.75 points, a decline of 0.52 percent. Breadth leaned negative, with only 134 of the index's 500 members higher on the session, and the index's concentration reading sat at 22 percent, consistent with its broad mode. NVIDIA was the single largest drag, shaving 3.32 points off the index on a 0.59 percent decline, followed by Eli Lilly's 2.96-point hit on a 2.52 percent drop. Alphabet's two share classes together subtracted 4.43 points, with Amazon close behind at 2.58 points. On the other side, Microsoft added 2.76 points, Micron contributed 2.54, and Palo Alto Networks and CrowdStrike each added more than 2 points apiece on double-digit percentage gains.
The index's map shows the split clearly: mega-cap technology and health care names dominated the red side of the ledger while a handful of software and energy names held the green.
The Dow
The DJIA closed at 52,215.00, down 652.98 points, a decline of 1.24 percent, with just 6 of its 30 members higher. Concentration ran hot at 41 percent. Caterpillar led the drag, down 101.34 points on a 2.42 percent slide, with Goldman Sachs next at 92.84 points lower on a 1.75 percent decline. American Express fell 3.68 percent, costing the average 71.03 points, while Sherwin-Williams and Amgen added further weight. Chevron was the lone standout, adding 38.81 points on a 2.88 percent gain, with Microsoft, Honeywell, Cisco and IBM all posting smaller gains. The Dow's narrow breadth, six advancers against the S&P's 134, marks the clearest divergence of the day: this was a blue-chip industrial and financial retreat rather than a broad market one.
The Nasdaq 100
The Nasdaq 100 closed at 28,957.53, down just 1.16 points, essentially flat on the day, with 33 of its 101 members higher. Alphabet's two classes together subtracted 58.67 points, the single largest drag on the index, with NVIDIA, Amazon and Meta rounding out the top detractors. But Space Exploration Technologies added 23.82 points on a 1.89 percent gain, and Microsoft, Micron, Palo Alto Networks and CrowdStrike each contributed more than 12 points, with Palo Alto Networks up 7.22 percent and CrowdStrike up 8.25 percent. Where the Dow saw almost no offsetting strength, the Nasdaq 100's software and chip names absorbed nearly all of the mega-cap tech weakness, leaving the index near unchanged while its two large-cap peers moved in opposite directions.
The sectors
Eight of the eleven sectors finished lower. Energy was the lone significant gainer, while Technology and Real Estate held small positive ground. Consumer Staples, Communication Services and Consumer Discretionary led the declines.
Energy rose 2.59 percent, adding 1.75 points, with Exxon Mobil the top driver, up 2.79 percent and contributing 0.46 points to the sector.
Consumer Staples was the day's weakest group, down 1.91 percent and shedding 1.72 points, with Procter & Gamble the largest detractor, down 2.76 percent and costing the sector 0.19 points.
Against the past year, the S&P 500's move sits at the 21st percentile, the Dow's at the 5th percentile, and the Nasdaq 100's at the 46th percentile. None of today's index moves qualify as large by that measure, though the Dow's reading places it toward the low end of its yearly range.
The numbers
- The S&P 500 closed at 7,623.68, down 39.75 points or 0.52 percent, with 134 of 500 members higher.
- The Dow closed at 52,215.00, down 652.98 points or 1.24 percent, with only 6 of 30 members higher.
- The Nasdaq 100 closed at 28,957.53, down 1.16 points, a move of 0.00 percent, with 33 of 101 members higher.
- NVIDIA was the S&P 500's single largest drag, subtracting 3.32 points on a 0.59 percent decline.
- CrowdStrike gained 8.25 percent and added 2.02 points to the S&P 500 and 12.87 points to the Nasdaq 100.
- Caterpillar was the Dow's biggest detractor, down 2.42 percent and costing the average 101.34 points.
- Energy was the day's strongest sector, up 2.59 percent, led by Exxon Mobil's 2.79 percent gain.
- Consumer Staples was the day's weakest sector, down 1.91 percent, led lower by Procter & Gamble's 2.76 percent decline.
- The Dow's move ranks in the 5th percentile of the past year, the S&P 500's in the 21st, and the Nasdaq 100's in the 46th.
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