Stocks were doing alright for a minute there. Then the bell rang.
Honestly, if you looked at the futures this morning, you might’ve expected a boring, green Friday to wrap up the week. But the market has a funny way of shifting the goalposts when you least expect it. While the big tech names like Nvidia were busy celebrating a massive win from Taiwan Semiconductor (TSMC), a whole different story was unfolding for regional banks, logistics giants, and even some healthcare heavyweights.
Basically, the "good news" isn't hitting everyone the same way. By the time we hit the afternoon session, the list of stocks that went down today started growing, and it wasn’t just the usual suspects.
Why the Market Breadth is Kinda Messy Right Now
You’ve probably seen the headlines about the S&P 500 snapping its losing streak earlier in the week. That’s cool and all, but it masks some pretty ugly movement under the surface. Today, January 16, 2026, we’re seeing a classic case of "earnings indigestion."
The big banks like JPMorgan and Goldman Sachs already had their moment in the sun earlier this week. Now, it’s the turn of the regional players and specific sector leaders, and let’s just say the reception has been chilly.
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Take State Street (STT), for example. They actually beat their earnings expectations—reporting $2.97 per share against a $2.82 estimate. Sounds great, right? Wrong. The stock dropped about 2% anyway. This happens a lot when investors "sell the news," especially after the company unveiled a new digital infrastructure plan right before the report. Sometimes the market just decides it’s already priced in the win and looks for any excuse to bail.
The Big Losers: J.B. Hunt and the Logistics Lag
If you want to know what’s actually happening in the "real" economy, you look at the trucks. J.B. Hunt Transport Services (JBHT) took a serious hit today. Shares sank after they reported a 2% decline in fourth-quarter revenue.
It wasn't just a small miss. They cited a drop in "revenue per load." That’s fancy talk for "we aren't getting paid as much to move stuff as we used to." When a shipping giant like J.B. Hunt struggles, it makes everyone nervous about consumer demand. If people aren't buying, trucks aren't moving. If trucks aren't moving, the stock goes down. Simple, but painful for your portfolio.
Tech Isn't Bulletproof: The Salesforce and Adobe Problem
We’ve all been obsessed with AI for the last year. It’s been the engine for everything. But today reminds us that even AI-adjacent stocks can't hide from poor execution or competitive threats forever.
Salesforce (CRM) has been having a rough go of it lately. They’ve been leading the Dow’s decliners after a recent update to their Slackbot feature failed to wow anyone. It’s currently down over 2.6% just today. It seems investors are getting a bit tired of "AI features" that don't immediately translate to "massive revenue."
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Then you have Adobe (ADBE). Oppenheimer recently downgraded them, and that cloud of doubt hasn't lifted. There’s this growing fear that generative AI might actually hurt Adobe’s moat rather than help it. When a major analyst withdraws a price target entirely—which is what happened here—people tend to hit the exit button fast.
A Quick Look at the Numbers Today
- J.B. Hunt (JBHT): Down significantly on revenue misses.
- State Street (STT): Dropped 2% despite an earnings beat.
- Boston Scientific (BSX): Fell about 4% after announcing they're buying Penumbra for $14.5 billion. Markets usually punish the buyer in a big cash-and-stock deal.
- Salesforce (CRM): Continuing its slide, down another 2%+.
The "Trump Effect" and Financial Stocks
We can't talk about stocks that went down today without mentioning the political elephant in the room. Earlier this week, President Trump suggested a 10% cap on credit card interest rates for one year.
That sent a shockwave through the financials. Visa and Mastercard were hit hard, and the residue of that sentiment is still lingering in today's trading. Even though it's just a proposal, the mere thought of a capped interest rate makes bank investors sweat. It’s why you’re seeing companies like Wells Fargo and Bank of America struggling to keep their heads above water, even when they post decent earnings.
Is This a Correction or Just a Bad Friday?
Honestly? It feels like a rotation.
While the "Magnificent 7" tech giants are still sucking all the oxygen out of the room, the rest of the market is trying to figure out where it fits in a high-interest-rate environment. The 10-year Treasury yield climbed to 4.17% today. When yields go up, growth stocks (especially the ones that aren't named Nvidia) tend to look a little less attractive.
We’re also seeing a "risk-off" vibe because of geopolitical tensions. There's weirdness happening with trade negotiations and tension in regions like Iran and Venezuela. Investors don't like weirdness. When things get fuzzy, they move to cash or defensive positions, leaving the more sensitive stocks to drift lower.
Common Misconceptions About Today’s Drop
A lot of people think that if the Dow is up, their stocks should be too. That’s a trap. The Dow is only 30 companies. Today, the "rally" is actually quite narrow. If you aren't holding the specific chipmakers that TSMC gave a boost to, you might be looking at a sea of red in your brokerage account.
Another mistake? Thinking a "beat" means a stock goes up. As we saw with State Street and Wells Fargo this week, beating expectations isn't enough anymore. Investors are looking at the outlook. If a company says, "We did great last month, but next month looks sketchy," the stock is going to tank. Period.
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What You Should Actually Do Now
Watching stocks that went down today can be stressful, but it’s also where the opportunities hide. If a solid company like Boston Scientific drops 4% just because they’re buying another company, that’s often a "technical" drop rather than a "fundamental" one. The company isn't 4% worse than it was yesterday; the market is just reacting to the price tag of the acquisition.
Next Steps for Your Portfolio:
- Check your exposure to regional banks. With the 10% interest rate cap talk and mixed earnings, this sector is going to be volatile for a while.
- Look at the RSI (Relative Strength Index). Some of these losers, like Netflix or Intuit, are starting to look "oversold" on a technical basis. This doesn't mean they'll bounce tomorrow, but they're getting into the "bargain" zone.
- Don't panic-sell the logistics lag. If you believe the economy is going to hold up, J.B. Hunt's drop might be a long-term entry point once the shipping rates stabilize.
- Watch the 10-year Treasury. If that yield keeps creeping toward 4.2%, expect more pressure on your tech and growth holdings next week.
The market isn't broken; it's just recalibrating. Markets that hit all-time highs—which the S&P did just a couple of days ago—need to breathe. Today's red numbers are just the market taking a much-needed exhale.