Big Tech Is Under Pressure Today. But So Is the Dow

The pre-Nvidia-earnings pullback in tech shares might be the big story in stocks today, but the blue-chip Dow Jones Industrial Average is under pressure too.

The Dow was down nearly 1% in recent afternoon trading. That’s roughly in line with the S&P 500’s pullback, though less dramatic than that of the tech-focused Nasdaq Composite.

Most Dow Components Declining

Pulling down the Dow: declines in, at recent count, 26 of its 30 constituents. Six were off more than 2%, led by Nike (NKE), Intel (INTC) and Salesforce (CRM). Johnson & Johnson (JNJ) led the advancers, but it was up less than 0.5%.

And the index contains its share of big tech stocks. Three of the so-called Magnificent Seven stocks—Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN)—are in the Dow. All three were recently in the red.

Dow Coming Off Two Straight Record-High Closes

The Dow is still near highs, however. Yesterday it finished at a record for the second-straight session. It’s up about 9% this year, trailing the other two leading indexes.