This divergence follows data from Oct. 9 showing 134 index stocks were in a drawdown of 40% or more, with 24 of those companies ever reaching their peak before 2015. While the Magnificent Seven has climbed 7.7% since August 3, the equal-weighted S&P 500 fell 3% over the same period, highlighting a narrow market where a few large names carry the overall index level.
Tuesday, October 20, 2026
Story
84% of S&P 500 Stocks Trade Below Peaks as Index Nears Record
US Markets9 days ago
A small number of dominant companies are currently buoying the U.S. equity benchmark despite a broad collapse in prices across the majority of its constituents. As of Oct. 11, 84% of S&P 500 stocks are trading at least 10% below their individual all-time highs, while the index itself sits just 0.2% below its record set on Tuesday. Bear market territory has claimed 59% of the index, with 41% of stocks down more than 30% and 17% having lost over 50% of their value. Real Estate leads the decline with 97% of stocks down at least 10%, followed by Materials at 96% and Utilities at 94%, whereas Energy has held up better with only 62% of its stocks facing such drawdowns.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.