By Park-Elm|2026-11-04T19:19:06+00:00November 4th, 2026|Markets|
- U.S. equities were spooked on the last trading day of October by disappointing reactions to Big Tech earnings, sparking a sharp selloff in tech stocks, amid an evolving geopolitical backdrop. The final trading week was also accompanied by the Fed’s decision to hold rates steady, as persistent inflation concerns weighed on sentiment. As investors looked forward to the outcome of the impending midterm elections, the S&P 500® ended the month down 1%.
- In a turnaround from Q3, mid and small caps outperformed their mega-cap peers, with the S&P MidCap 400® and S&P SmallCap 600® up 2% and 3%, respectively. The S&P 500 Top 50 ended the month down 3%.
- Energy continued its lead among large-cap sectors, up 14%, buoyed by rising crude oil prices. In another reversal from Q3, AI-related worries pulled Communication Services and Information Technology to the rear.
