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Most S&P 500 stocks are in correction despite index near all-time highs, driven by few large caps.

Market News
03 Oct 2026
Seeking Alpha
View Source
Bearish
Most S&P 500 stocks are in correction despite index near all-time highs, driven by few large caps.

The S&P 500 index is close to its all-time highs, but the majority of its stocks are underperforming, with the median stock 16% below its own peak and 78% in correction territory. This divergence is due to gains being driven by a small number of large-cap stocks, while many sectors sensitive to interest rates, like Utilities and Real Estate, are struggling. Rising interest rates are pressuring valuations despite earnings growth, leading to a broad market correction beneath the surface. Investors should be cautious as market breadth weakens and rate hike risks persist.

The story on the S&P 500's hidden correction is offered here with Pluang's market data snapshot for context. For readers following US stocks, as of Oct 03, 2026 18:01 WIB, out of 150 priced US stocks tradable on Pluang, 80 rose and 66 fell today. Among notable movers, TSLA rose 4.65% to USD 370.59 with a typical hold time of 87 days and a Pluang order activity heavily skewed to selling at 88% sell versus 12% buy; UMC gained 4.20% to USD 26.27 with 80% sell orders; FCX increased 3.95% to USD 72.04 with a more balanced 55% sell and 45% buy split.

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