Market Summary — Midday — 2026-05-12
- equities faced broad pressure as investors digested elevated inflation data and geopolitical tensions, driving major indices to session lows
- The S&P 500 closed down 0.73% at 7,358.45, the Nasdaq Composite fell 1.17% to 25,965.68, and the Dow Jones Industrial Average dropped 0.63% to 49,391.99
- The session was characterized by a distinct defensive rotation; while technology and semiconductor names retreated from recent record highs, capital flowed into defensive sectors like Health Care and Consumer Staples