The stock market just took a bit of a nosedive, and if you're looking at your portfolio today, January 15, 2026, it probably feels a little raw. Honestly, it wasn't just one thing. It was a perfect storm of tech giants stumbling, big banks reporting messy earnings, and some geopolitical whispers that had everyone hitting the sell button at the same time.
Markets are fickle. One day we're talking about all-time highs, and the next, we're staring at a sea of red. Today, the tech-heavy Nasdaq led the retreat, while the S&P 500 and the Dow Jones Industrial Average followed suit, though with slightly less drama. Basically, the "smart money" decided to take a breather, and some specific names got absolutely hammered in the process.
Why the Tech Sector Got Bruised Today
If you want to know which stocks dropped most today, you have to start with the silicon valley heavyweights. For a long time, tech has been the engine of this bull market, but today that engine sputtered.
AppLovin (APP) took one of the biggest hits in the S&P 500, sliding nearly 9.86%. That's a massive move for a company of that size. It wasn't alone in the digital doghouse, though. Intuit (INTU) dropped over 7%, and Broadcom (AVGO) saw about 5.5% wiped off its market cap. Even the giants weren't safe; Nvidia (NVDA) fell more than 2% as the Trump administration added new security layers to AI chip exports to China.
It's kinda wild how fast sentiment shifts. Just last week, everyone was clamoring for more AI exposure, and now, investors are worrying about "security requirements" and "valuation bubbles."
- AppLovin (APP): Down 9.86%
- Intuit (INTU): Down 7.06%
- Broadcom (AVGO): Down 5.52%
- Oracle (ORCL): Down 5.21%
- Microsoft (MSFT): Down 2.56%
Software-as-a-Service (SaaS) and semiconductor companies are feeling the heat because they’re priced for perfection. When a report comes out suggesting that AI might be "weakening competitive positions" (like we saw with Oppenheimer's recent note on Adobe), people panic. Adobe (ADBE) itself continued its slide today, dropping another 2.2%.
Banks Are Having a Rough Earnings Season
Banks usually provide the bedrock for the Dow, but right now, that bedrock feels a bit like quicksand. This week kicked off the fourth-quarter earnings season, and the big players like JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) are failing to impress the crowd.
Wells Fargo was one of the biggest laggards, dropping 5.15% after its results fell short of what analysts were expecting. Bank of America (BAC) wasn't far behind with a 4.58% dip. The irony is that some of these banks actually beat their revenue estimates, but the market didn't care. Investors are more focused on the "mixed" nature of the profits and a looming proposal from the White House to cap credit card interest rates at 10%.
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That credit card cap talk is a huge deal. It’s why Visa (V) and Mastercard (MA) have been struggling all week. While they rebounded a tiny bit today, the uncertainty is still weighing heavy. If the government actually goes through with that, the profit engines for these financial giants will take a massive hit.
Major Financial Decliners:
- Wells Fargo (WFC): -5.15%
- Bank of America (BAC): -4.58%
- Citigroup (C): -3.99%
Travel and Consumer Stocks Didn't Escape
You’d think people would be booking vacations to escape the winter, but travel stocks got caught in the crossfire too. Airbnb (ABNB) dropped 6.89%, and Expedia (EXPE) fell 5.72%. Even the cruise lines, which have been on a tear lately, hit a localized iceberg. Royal Caribbean (RCL) fell over 5%, and Norwegian Cruise Line (NCLH) was down about 4.5%.
Part of this is just "guilt by association" with the broader market sell-off, but there's also a growing concern about consumer spending. While retail reports showed people spent more than expected in November, the forward-looking guidance for 2026 is starting to look a bit shaky. Delta Air Lines (DAL), for instance, saw its stock fall 2.5% because its profit forecasts weren't as rosy as the street wanted.
The Outliers: Small Caps and Energy
It wasn't all bad news, though. If you look at the Russell 2000, small-cap stocks actually rose about 0.7%. This tells us that the "pain" is mostly concentrated in the big, over-leveraged tech and financial names.
Energy was another bright spot—sorta. Exxon Mobil and Chevron both gained more than 2% as oil prices fluctuated. Crude oil has been volatile because of protests in Iran and shifting signals from the White House regarding potential military action. One minute we're expecting a supply squeeze, the next, a "hold off" signal sends prices back down. Today, WTI crude actually settled lower at around $60, but the energy stocks held their ground better than most.
What This Means for Your Portfolio
When you ask which stocks dropped most today, the answer is usually a reflection of where the most "hype" was located. Right now, that’s tech and AI.
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Don't let the headlines make you do something impulsive. Market corrections—even sharp ones like today—are a normal part of the cycle. We've seen the S&P 500 hit record highs recently, so a 0.5% or 1% drop is really just a trim. However, if you're heavily concentrated in the names mentioned above, like AppLovin or the big banks, you might want to look at your risk tolerance.
Actionable Insights for Investors:
- Review your Tech exposure: If your portfolio is 80% AI and software, days like today are going to hurt. Consider diversifying into the "boring" sectors like utilities or healthcare that often hold up better when the Nasdaq is bleeding.
- Watch the 10-year Treasury yield: It's currently hovering below 4.15%. If yields start spiking again, tech stocks will likely face even more pressure.
- Keep an eye on earnings: We are right in the thick of it. The next two weeks will be critical as more companies report their 2025 year-end numbers and 2026 outlooks.
- Don't ignore the policy talk: The proposed 10% credit card interest cap is a massive "wildcard." If it gains legislative traction, financial stocks might be in for a long winter.
The market is currently wrestling with high valuations and a changing political landscape. Today's drop is a reminder that what goes up can—and eventually will—come back down to earth, even if just for a visit.
Next Steps:
Check your stop-loss orders on high-volatility tech names like Nvidia and AppLovin. If you're looking for a "dip" to buy, monitor the $60 support level on WTI crude oil and the performance of the big banks over the next three trading sessions to see if the selling pressure stabilizes.