As the S&P 500 nears a new record high, there are cracks below the surface
About 60% of the stocks in the S&P 500 are down more than 20% from their all-time highs.
Last updated: 2026-09-21 17:14:32 ET
About 60% of the stocks in the S&P 500 are down more than 20% from their all-time highs.
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The latest cracks in the AI trade are emerging at a particularly troubling time for investors.
Refiners don't care what crude costs. They care about the crack spread. Right now, those margins look like the ultimate holiday bonus.
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