Traders work on the floor of the New York Stock Exchange (NYSE) on Wednesday, January 28, 2026 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
Futures tracking the S&P 500 index hovered near a flatline Tuesday night after traders swapping tech stocks sent the broader index into a downtrend.
S&P500 futures Although the increase rate was less than 0.1%, Nasdaq 100 futures The decline was less than 0.1%. Futures linked to the Dow Jones Industrial Average It added 33 points, or less than 0.1%.
In the extended session, chipotle pepper Shares fell nearly 6% after the restaurant chain reported a fourth consecutive quarter of declining customer traffic and expected flat same-store sales growth in 2026. advanced micro device The stock fell 8% after first-quarter estimates fell short of some analysts’ expectations.
Investors move away from riskier growth stocks, walmart. The S&P 500 fell about 0.8%, with a heavy weight in tech stocks. Nasdaq Composite It fell 1.4%. The 30-stock Dow Jones Industrial Average fell nearly 167 points, or 0.3%, after hitting a new high earlier in the day.
At the regular meeting, Nvidia and microsoft Each decreased by more than 2%. Names of famous artificial intelligence infrastructures broadcom, oracle and micron technology It also closed in the red. Software stocks also fell. ServiceNow and sales force It fell nearly 7%. The tech sector was the worst performer in the S&P 500, falling more than 2%.
Private credit stocks such as Blue Owl and TPG fell on concerns that artificial intelligence will disrupt the software industry.
“I think there’s a lot of cross currents that are impacting the market at once,” Joe Tanias, chief investment strategist for North America at Northern Trust Asset Management, said Tuesday on CNBC’s “Power Lunch” about the broader market decline. “Meanwhile, we believe the underlying fundamentals remain.”
“The market is now starting to take a more specific and nuanced view of which companies it wants to be exposed to,” he said. “Also, keep in mind that after three years of rallying in a market that has seen double-digit returns like this, valuations are starting to stretch a little bit. It doesn’t take long to hit the bears and see the market capitulate, a bit like what we’re seeing now.”
A busy earnings week has begun, with Alphabet scheduled to report results on Wednesday and Amazon on Thursday.
