S&P 500, Nasdaq, and Dow All Gained May 12 — But Most Stocks Fell
All three major U.S. indexes rose on May 12, 2026, while individual stocks across retail, defense, IT services, software, and commerce tech declined broadly. The divergence points to AI-related megacaps carrying index performance while the broad market weakens. Narrow breadth historically precedes volatility spikes and sector rotation.
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