S&P 500 falls 0.5% to 7,541.40 as technology weakness returns
Published on 11/02/2026 at 23:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSS&P 500 closes lower amid rotation
- The S&P 500 fell 38.67 points, or 0.5%, to 7,541.40 on Monday, November 2, 2026.
- A rebound in oil prices and broader stock-market gains could not offset renewed weakness in technology and artificial-intelligence shares.
- Investors are now focused on Apple earnings, the U.S. midterm elections and the upcoming employment data.
The S&P 500 finished Monday, November 2, 2026, lower after an early advance faded. According to the Associated Press, the index lost 38.67 points, or 0.5%, to close at 7,541.40. The decline followed a 1.1% early gain and extended the market's recent weakness in technology and artificial-intelligence shares.
Early recovery loses momentum
The session showed a continued split between the wider market and high-growth technology stocks. The Associated Press reported that a majority of Wall Street stocks advanced, helped by a sharp fall in Brent crude prices. However, Nvidia reversed an early gain and weighed on the S&P 500 as concerns about technology valuations and the returns on heavy AI investment remained in focus.
The move came after the index had fallen 1.82% to 7,580.07 on Friday, October 30. That earlier sell-off was led by technology shares after disappointing signals from several large companies, including weak outlook concerns at Intel and questions about the financial payoff from Amazon's AI spending. The S&P 500 therefore began November under pressure despite Monday's initial attempt at a rebound.
Investors await political and earnings catalysts
Oil prices were a major counterweight to the technology weakness. Reports of diplomatic efforts involving Iran raised hopes that energy-supply risks could ease, helping fuel-sensitive parts of the market even as technology shares struggled. The session's reversal nevertheless showed that lower energy prices alone were not enough to restore broad risk appetite.
Attention now shifts to several potentially market-moving events. Apple was scheduled to report quarterly results after Monday's closing bell, making its outlook important for sentiment across the technology sector. Tuesday's U.S. midterm elections are another immediate uncertainty, while the weekly calendar also includes further corporate earnings and U.S. labor-market data. These events may determine whether investors continue moving away from high-multiple technology shares or use the recent decline as an opportunity to rebuild exposure.
The S&P 500 remains a broad benchmark, so its modest headline decline can obscure substantial differences between sectors and individual companies. Monday's performance pointed to continued sensitivity to AI spending, earnings expectations, energy prices and political risk rather than a single market-wide driver. Further direction will depend on the evidence delivered by upcoming results and economic data. More coverage of the S&P 500.
