---
title: "The S&P 500 fell on chips. The average stock in it rose"
url: "https://etf.net/news/the-s-p-500-fell-on-chips-the-average-stock-in-it-rose-2026-09-14"
published_at: "2026-09-14T21:09:24.440Z"
updated_at: "2026-09-14T21:09:24.440Z"
byline: "ETF.net Research"
---

# The S&P 500 fell on chips. The average stock in it rose

Monday, September 14: Invesco's S&P 500 equal-weight fund RSP rose 0.07% as State Street's cap-weighted S&P 500 fund SPY fell 0.45%; 2,592 U.S. stocks advanced and 2,952 declined.

By ETF.net Research. Published Sep 14, 2026.

Anthropic chief executive Dario Amodei published a Saturday essay arguing the industry should slow how fast it improves model capabilities. OpenAI's Sam Altman and Elon Musk posted their agreement; Altman, in an interview published the same day, also called a 2026 public listing ill-advised. South Korea's Kospi, heavy with chip suppliers, had already dropped **3.26%** in Monday's Asia session before New York opened.

Nvidia then subtracted **0.27** percentage points from SPY at Monday's close, about 60% of the decline. Broadcom, Micron and Advanced Micro Devices brought the four-stock hole to **0.54** percentage points, more than the fund fell, which means the rest of the portfolio was a net plus. Thirteen of 20 mega-caps finished higher.

Micron is now **4.9%** of the Nasdaq-100 fund QQQ, large enough that a 5.25% drop subtracted **0.26** percentage points on its own, almost matching Nvidia's 0.28-percentage-point hit.

Table: Exposure, Fund, Monday

## Nvidia, Broadcom, Micron and AMD

Chart: In QQQ's top 11, **chips** fell and the platforms rose

VanEck's semiconductor fund SMH lost **4.75%**, extending a one-month decline of 8.1%. Oracle, which is not a chipmaker but sits in the same AI-infrastructure complex, fell 3.70%.

The same split ran through the Nasdaq-100. QQQ fell 0.80% while First Trust's equal-weight Nasdaq-100 fund QQEW rose 0.14%. Software moved the other way: Palo Alto Networks jumped 13.1% and CrowdStrike 13.9%, adding 0.16 and 0.13 percentage points to QQQ. It was not enough.

Among the 20 largest names, Eli Lilly rose 1.98% and Netflix 3.77%; the seven that fell were Nvidia, Amazon, Broadcom, Tesla, JPMorgan Chase, Oracle and Exxon Mobil. The communication services sector fund XLC gained 2.19%, health care XLV 1.45%, and consumer staples XLP 1.25%. The technology sector fund XLK fell 1.81%. Three of the eleven Select Sector funds finished up.

RSP holds 17.3% in technology against 38.7% in SPY. A semiconductor decline of this size shows up in the cap-weighted fund and barely registers, name by name, in equal weight.

## 2,952 decliners against 2,592 advancers

Across **5,809** U.S. common stocks listed on the NYSE, Nasdaq and NYSE American (ETFs, funds, foreign listings, FX and crypto symbols excluded), decliners led: **2,952** down, **2,592** up, 265 unchanged. Advancers were **44.6%** of that list. IWM fell 0.35%.

The average S&P 500 stock rose a fraction. The typical U.S. stock did not.

## Equal-weight still trails over a month

Monday inverted a pattern that had been running the other way.

Chart: **Equal-weight** still trails the cap-weighted S&P 500

RSP is still ahead year to date, up **13.2%** against **12.2%** for SPY. IWM leads both, up **17.5%**. The one-month giveback in equal-weight and small-caps is a pullback inside that 2026 lead, not a new ranking.

Source: etf.net, https://etf.net/news/the-s-p-500-fell-on-chips-the-average-stock-in-it-rose-2026-09-14. Please cite the page URL.