preCharge News BUSINESS — The S&P 500 pulled back as investors dumped technology stocks and moved into shares more broadly linked to improvements in the economy.

The broad market index fell 1.4%. The 30-stock Dow Jones Industrial Average dipped 410 points, or 0.8%, after earlier rising as much as 0.5% to touch 49,653.13, a new record. The Nasdaq Composite shed 2.3%, pushing the tech-heavy index into negative territory for the year.

Most tech shares were in the red, including most of the “Magnificent Seven” names that have reported earnings so far — Microsoft, Meta Platforms and Tesla were down 3%, 2% and 1%, respectively. Nvidia also slumped, with the artificial intelligence bellwether’s 4% drop adding to its losses for the year. Meanwhile, software stocks continued their 2026 tumble, with shares of names like ServiceNow down 7% and Salesforce falling 8%.