CORRECTION (2026-07-12): An earlier version of this article included dek, key-point and body claims that SpaceX shares tumbled 16% (the Alphabet reference is retained). That material has been removed and adjacent wording lightly adjusted for readability; the substance of the article is otherwise unchanged. Corrected on 2026-07-12.
US equity markets closed lower on Monday, with the Nasdaq Composite falling 1.32% to 26,166.60.
3%. The sell-off was anchored by significant declines in technology shares in a session defined by divergent performance across sectors.
The S&P 500 also retreated, dropping 0.4%, while the Dow Jones Industrial Average managed a modest gain of 0.3%.
The sell-off was anchored by significant declines in technology shares in a session defined by divergent performance across sectors.
Alphabet also contributed to the downward pressure on the tech-heavy Nasdaq.
This marks a continuation of the retreat from near-record levels seen earlier in the week, driven by a sharp rotation out of technology names.
Investors appear to be taking profits after a strong run, with capital shifting away from high-growth tech stocks toward more defensive or value-oriented sectors.