Daily newsletter · Mon 19 Oct 2026
Seven of the S&P 500's 11 sectors rose last week, and the index still fell 1.95%
Most of the American market had a decent week. Consumer staples, the companies selling groceries and toothpaste, rose 5.02%. Energy gained 4.86% and healthcare 3.45%.
So how did the S&P 500 still fall? Technology dropped 7.70% over the five sessions. The S&P 500 weights each company by its market value, and technology made up about 38% of the index at the end of August.
A 7.7% fall in something that big takes almost three points off the index on its own. The other ten sectors clawed back about one of them.
The Dow Jones Industrial Average tells the other half of the story. It holds just 30 companies, weighted by share price, and it rose 0.67% to 52,002.41 for the week.
we'd call this a healthy rotation for the market, and a painful one for anyone whose savings track the index. With technology near two-fifths of the S&P 500, Meta's results on Wednesday matter to almost every index fund.
More in
All stories →- Friday 6 November The AI trade came apart and pushed the NASDAQ Composite into a correction
- Thursday 5 November Markets rallied on the prospect of nothing much getting done
General information and commentary only, not financial advice. It does not take account of your objectives, financial situation or needs, and reflects the author's own reading of public information at the time of writing, which may be wrong. Sharespective, its people and its clients may hold positions in the companies covered. Do your own research and talk to a licensed adviser.