S&P 500, Nasdaq close down as Big Tech's soaring AI budgets trigger flight

S&P 500, Nasdaq close down as Big Tech's soaring AI budgets trigger flight

By Sinéad Carew and Pranav Kashyap

Thu January 29, 2026 7:24 AM  

Tech really took a bath today as, at least for today, investors decided the AI honeymoon was over given a new pessimism over the promise of huge AI expenditures ever turning into profits, especially with Microsoft’s disappointing Q4 report. The losses were far greater earlier in the day than at close with the Dow down almost 400 by 11 a.m., tech going much worse with the Nasdaq losing over 600 in the morning and S&P over 100. 

Nasdaq ends slightly up, S&P 500 flat as Fed brings little surprise

Nasdaq ends slightly up, S&P 500 flat as Fed brings little surprise

By Sinéad Carew and Pranav Kashyap

Wed January 28, 2026 4:58 PM  

A completely expected “no change” announcement from the Fed today resulted in very little change to the indexes though tech started quite high in the morning only to immediately decline to near break-even. Even the Dow, though mostly straddling break-even all day, had its moments at times as much as 100 down and 150 up.  The Mag7 was a mixed bag with Microsoft diving after its Q4 report but Meta rising though its positive report came in after close. The good news is that, though the Fed had intended to report that inflation was still too hot and employment still too unstable, they modified their statement that both factors were in better shape than previously thought.  

S&P 500 marks closing record as corporate earnings roll in; Medicare rates hit insurers

S&P 500 marks closing record as corporate earnings roll in; Medicare rates hit insurers

By Sinéad Carew and Pranav Kashyap

Tue January 27, 2026 5:00 PM

Tuesday saw a massive flight from industrials as the Dow sank over 400 points and an equally massive migration to tech as Nasdaq gained over 200. Hurting the Dow was a serious hit to healthcare stocks triggered by a White House proposal to raise Medicare premiums. Tech was helped by a deal with Corning getting a $6B contract to supply fiber optic cable to Meta for its AI data centers. The Mag7 companies are reporting in the next 3 days and their earnings will largely determine investor appetite for further investment.  

Wall Street indexes close higher ahead of earnings, Fed meeting

Wall Street indexes close higher ahead of earnings, Fed meeting

By Sinéad Carew and Pranav Kashyap

Mon January 26, 2026 5:00 PM

With a slew of megacap earnings coming later this week and increased optimism that the huge investments in AI will soon start translating into profits, all three indexes headed straight up today with 3-digit gains in both tech and industrials. Investors will be looking to see if the continuing concerns over high tech valuations are justified. It’s a fragile equation though. Even a slight setback could cause a big AI selloff. 

Dow ends lower, with S&P flat, as Intel's outlook weighs on risk appetite

Dow ends lower, with S&P flat, as Intel's outlook weighs on risk appetite

By David French

Fri January 23, 2026 4:56 PM

Tech was topsy-turvy and the Dow went straight south as the indexes continue to recover from Tuesday’s huge losses. Today both the Nasdaq and S&P came within a stone’s throw of recouping losses and though the Dow did recoup yesterday by a slim margin, the 285 point loss today put them back into negative territory. Thus, the week remained a loser on all counts, though only slightly so. Tech would have had a better day except for disappointing news from Intel.  

Wall Street ends up as investors buoyed by tariff relief, upbeat data

Wall Street ends up as investors buoyed by tariff relief, upbeat data

By David French

Thu January 22, 2026 4:00 PM

 

For a second day the indexes continued to ride the wave of ebullience after Trump’s U-turn yesterday on Greenland tariffs and starting to buy back the huge losses from Tuesday. Even though the Dow has now completely recovered, both the tech indexes are still a little shy of Monday’s close before the storm set in.  

Wall Street ends higher as investors cheer Greenland framework deal, averted tariffs

Wall Street ends higher as investors cheer Greenland framework deal, averted tariffs

By David French

Wed January 21, 2026 4:52 PM

After yesterday’s enormous selloff, today was a bargain hunter’s dream as all three indexes enjoyed very comfortable gains from the prior session’s huge losses. Then at 11 a.m. began a decline which lasted until 2:30 pm, at which time Trump reversed his position on the Greenland-related tariffs and the market immediately catapulted and closed having recouped a large percentage of Tuesday’s losses.