Zaid Admani

Then stick around to the end of the show to find out why Tesla will stop selling their FSD software.

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Stocks had their second red day in a row on Wednesday with the S&P 500 dropping 0.5%.

Well, the Nasdaq lost more than 1%.

It was the worst day of the year so far for the Nasdaq.

And once again, this sell-off was mostly concentrated in tech stocks.

Every single magnificent seven stock was down yesterday.

In fact, yesterday was one of those days where more than 310 stocks in the S&P actually closed higher, but the index still fell because the mega cap tech names carry so much weight.

Remember the S&P 500 and NASDAQ are market cap weighted indices.

So the larger the company is, the more impact it has on the index.

Now, some on Wall Street are calling this the return of the S&P 493.

So instead of the market being carried by a handful of AI and mega cap tech names, money is finally rotating into the rest of the market.

The best example of that are small cap stocks.

The Russell 2000, which tracks smaller companies, finished in the green yesterday and is now up nearly 7% on the year, massively outperforming the Nasdaq so far in 2026.

Now, I don't think this is a reason to panic or anything.

Market rotations happen.

And honestly, I think it's a good and healthy thing that the market is starting to broaden out a bit.

That said, if big tech names continue to struggle, the major indices could have a hard time rallying.

We'll see how long the weakness in the tech sector lasts.