Bespoke Investment Group bar charts

The average Russell 1,000 stock is now 23% below its 52-week high. Consumer Discretionary, Industrials, and Technology are even weaker at -26% or worse.

The semis are now in their 4th 10%+ correction since early June. That's the most corrections inside a window that small since late 2002. $SOXX $SMH

Today would be just the 2nd trading day this year where the Nasdaq 100, Philly SOX (semis), and S&P 500 Software group all fell 2%+. It happened 14 times last year and 34 times in 2022.

Here's a good way to look at the dichotomy between 1st and 2nd half performance so far this year. The 100 best performing stocks in the Russell 1,000 in the 1st half are down an average of 15.6% in the 2nd half. The 100

After a wondrous first half for investors, especially for those in growth stocks, the second half of 2026 has been a struggle.  The Russell 3,000 -- which represents roughly 98% of publicly traded US stock market cap --

After initially moving down to 50/50 odds of a hike at the FOMC meeting on 10/28 following the 8:30 AM ET CPI print, we've seen market pricing for odds of no hike drift higher intraday back up to 66%.