The S&P 500 fell 1.2% in the Oct. 22 U.S. session even as more than 300 of its constituents advanced, according to an Oct. 23 BlockBeats report. The Nasdaq declined 2.6%, while the Dow and Russell 2000 edged higher.
Large technology stocks weigh on indexes
The report put the combined market value of the S&P 500’s ten largest companies at about 40% of the index total. It said the Philadelphia Semiconductor Index lost more than 6% during the session and was more than 26% below its June high. Meta fell about 7%, while consumer staples stocks including General Mills and Campbell’s rose.
Source: BlockBeats, 2026-10-23 09:30:29 UTC.