Labor data and tech regulation accompany a 2.15% QQQ slide, with SPY ahead

QQQ and SPY opened 0.25% and 0.28% higher, then finished 2.15% and 1.63% lower. SPY led by 0.52 percentage points as labor and housing data, technology regulation, and AI and semiconductor updates framed a broad retreat that extended after the regular session.

Published Aug 21, 2026

QQQ: -2.15%
SPY: -1.63%
QQQ − SPY: -0.52%

What shaped the session

Labor and housing data

Initial claims came in at 227,000 versus 222,000 expected, while January existing-home sales were 3.91 million versus 4.16 million expected.

Technology regulation and AI

An FTC letter raised a potential Apple News compliance issue, while Google announced a major Gemini 3 Deep Think upgrade during the technology-heavy selloff.

Semiconductor earnings

Applied Materials reported adjusted earnings per share and revenue above estimates after the close, adding a company-specific semiconductor update after the session's decline.

Key news

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←Feb 11:Intraday reversal ends with QQQ 0.15 points ahead as jobs and fiscal data arrive·View all February 2026 QQQ/SPY reviews·Feb 13:CPI rebound fades into a flat QQQ finish as SPY slips 0.05%→