The Dow Jones Industrial average fell 0.4% Tuesday, dropping 185 points, as the benchmark S&P 500 essentially stayed steady, falling so slightly that it rounded off to a zero percent change.
But tech stocks pushed the tech-heavy NASDAQ to new record highs yet again, with the NASDAQ Composite climbing 0.5%.
One of the curious twists in Monday’s gains had been that, while the S&P 500 rose more than 1%, climbing within 1% of a fresh high, more S&P 500 stocks posted new 52-week lows than those that registered 52-week highs, on Monday. It was the first time since December 1999 that this unusual dynamic occurred. So perhaps the potential emerges for a more-variegated-than-usual landscape across the stock market, with aggregate measures possibly masking a more widespread divergence.
Oil was below $100, with U.S. benchmark West Texas Intermediate crude prices falling 0.6% to $95.20 a barrel by late afternoon. International benchmark Brent crude futures dropped 2% to $98.25. At the UN General Assembly, President Donald Trump provided mixed signals, raising the prospect of annihilating Iran while also predicting a deal with Iran. And U.S. and Iranian representatives reportedly met “on the sidelines” of the UN event.
The 10-year Treasury yield, benchmark for mortgages rates, corporate bonds, and other loans, held somewhat steady, up less than a basis point from Monday, at 4.96% by late afternoon.
Some of the biggest losers for the Dow were financial firms Visa (V), JPMorgan Chase (JPM) and American Express.
S&P 500 top gainers included tech stocks Sandisk (SNDK) and Micron Technology (MU).
Roundhill’s Memory ETF (DRAM) and the iShares Semiconductor ETF (SOXX) also climbed. But the Roundhill Magnificent Seven ETF (MAGS) dropped 0.5% offsetting its 3.5% on Monday. Meta Platforms (META) fell 0.6% just one day after climbing 11%, attributed to its so-called “AI” product “Muse.”
In the News
- Nasdaq Hits Record High as Chip Stocks Extend Rally; Dow Falls; Nasdaq Extends Record Run as Tech Stocks Rally — Markets News, Sept. 22, 2026 – Investopedia
- Stocks [Monday] had a great day on the surface. But something alarming occurred not seen since 1999 – CNBC 9.21.26
- Nasdaq sets record high on AI optimism, oil drops below $100 – Reuters
- Nasdaq 100 Climbs to Its First Record Since June – Bloomberg
- Nasdaq rises to new record; S&P 500 closes flat as oil slides for a fifth day – CNBC
- Nasdaq Hits New High. AI Leaves Market in the Dust. – Barron’s
- Stocks mixed: Nasdaq all-time high, Dow sags, S&P flat – Yahoo
- Nasdaq books another record close; Dow sheds 185 points – MarketWatch
- The Stock Market Is Repeating a Rare Historical Pattern, But History Has Good News for Investors; When the Shiller CAPE Ratio gets this high, it’s often bad news for stock prices. – Motley Fool
- The Nasdaq’s rapid rise to a record is sending a message to investors: Don’t wait for a pullback to buy – MarketWatch
- The Nasdaq Set a Record and the Dow Lost 270 Points on the Same Morning; Nasdaq set a record on Tuesday morning while the Dow dropped 270 points. Neither move had much news behind it. – Motley Fool
- Meta’s Muse Drags Down Stocks That Depend on ‘Consumer Inertia’ – Bloomberg
- NASDAQ Composite Index (COMP) – NASDAQ
- NASDAQ 100 – NASDAQ
- S&P 500 – Yahoo Finance
- U.S. Stock Market Today- Fox
- Dow Jones Industrial Average – S&P Global DJIA
- NYSE Composite – New York Stock Exchange
- U.S. 10 Year Treasury Note – MarketWatch
