---
title: "Most stocks fell, and Apple more than accounted for the S&P 500's drop"
url: "https://etf.net/news/most-stocks-fell-and-apple-more-than-accounted-for-the-s-p-500-s-drop-2026-09-29"
published_at: "2026-09-29T21:05:31.399Z"
updated_at: "2026-09-29T21:05:31.399Z"
byline: "ETF.net Research"
---

# Most stocks fell, and Apple more than accounted for the S&P 500's drop

3,317 US stocks fell and 2,287 rose on Tuesday, September 29, and Apple more than accounted for the 0.17% decline in the fund that holds the S&P 500.

By ETF.net Research. Published Sep 29, 2026.

Most US stocks fell on Tuesday, and SPY, the fund that holds the S&P 500, fell 0.17% to $764.30. Apple accounted for more than that loss, so the other holdings were up as a group. A few large gainers did that work, not a broad rise.

Of 5,862 US common stocks on the NYSE, Nasdaq and NYSE American, **3,317** fell and 2,287 rose. Another 258 were unchanged. The selling was less one-sided than on Monday, when 3,819 fell and 1,790 rose, and it was still a decline.

Apple fell 2.7%. At 7.4% of SPY, that drop took **0.20** percentage points off the fund, more than the fund lost.

Meta rose 3.3%, more help to SPY than any other holding. Broadcom, Applied Materials and Micron rose too. That kind of offset was enough to lift QQQ, the fund that holds the Nasdaq-100. It rose 0.20% because Meta, Applied Materials, Micron and Space Exploration Technologies outweighed Apple there.

Fourteen of the 20 largest US stocks fell, including Nvidia, the largest holding in SPY. The average S&P 500 stock fell as well: RSP, which holds each of those stocks in the same amount, lost 0.11%. Smaller companies fell more than that. IWM, the fund that holds the Russell 2000, an index of smaller US stocks, lost 0.35%.

Chart: Only the Nasdaq-100 fund **rose**

The split is older than Tuesday. As of Friday, September 25, RSP was down 4.6% over the prior month, including dividends, while SPY was up 0.9%. The two were 5.5 percentage points apart.

On Monday, Jonathan Krinsky at BTIG said the S&P 500 had just logged nine straight days with more 52-week lows than highs, while the index sat within 2% of its recent peak. A 52-week low is the lowest price in a year. He said that combination had otherwise appeared only in December 1999 and January 2000, since 1990.

SPY closed 1.9% below its 52-week high. RSP closed 6.2% below its own. On Tuesday, RSP fell 0.06 percentage points less than SPY. A day of that size does not put the average stock back near its high.

Source: etf.net, https://etf.net/news/most-stocks-fell-and-apple-more-than-accounted-for-the-s-p-500-s-drop-2026-09-29. Please cite the page URL.