Tech Tumbles as Wall Street Rotation Gains Speed: Markets Wrap

A weeklong rotation that has seen investors bail from richly priced technology names in favor of more economically sensitive industries picked up speed, sending the Nasdaq 100 to its worst decline in a month while lifting the majority of companies in the S&P 500.

While the US equity benchmark saw its first back-to-back losses in 2026 amid a slide in all “Magnificent Seven” shares, over 300 of its firms actually rose. Small caps continued to outperform, with the Russell 2000 beating the S&P 500 for a ninth straight session — matching the longest streak since 1990.