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S&P 500 dips 0.6% as AI and mega-cap stocks face selling pressure, but long-term momentum stays positive.

Market News
31 Oct 2026, 19:21 WIB
Seeking Alpha
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Neutral
S&P 500 dips 0.6% as AI and mega-cap stocks face selling pressure, but long-term momentum stays positive.

The S&P 500 fell 0.6% last week, driven by heavy selling in AI and mega-cap growth stocks, while defensive and value sectors saw inflows. Despite three consecutive weeks of declines, the index remains just 3.1% below its all-time high, with long-term momentum still slightly positive. Market rotation favored small-caps, REITs, utilities, and value stocks, signaling a shift in investor preference. The author remains invested, expecting dip buyers to return soon and the AI sector to regain leadership after short-term volatility eases.

The 1-Minute Market Report October 31, 2026 offers context for readers following US market trends. For readers following the Technology sector, here is Pluang's market snapshot as of Oct 31, 2026 23:21 WIB: out of 150 priced Technology-sector US stocks, 26 rose and 124 fell today. Notable movers include DELL at USD 424.16 with a 1-day change of -10.77%, GDDY at USD 117.28 with a 1-day change of +10.76%, and DOCN at USD 89.52 with a 1-day change of -10.45%.

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