Stock-market slide: All S&P 500 sectors are down in August, on pace for a broad monthly drop not seen this year

All of the S&P 500’s sectors are down in August in a sweeping stock-market tumble not seen since the end of last year, after the index surged in the first seven months of 2023.

The Fed raised interest rates again in July to fight still-elevated, but easing, inflation. Many investors this year have been anticipating that the Fed is nearing the end of its hiking cycle, as it has slowed the pace of lifting its benchmark rate this year. So-called Big Tech stocks, which include companies such as Apple Inc. AAPL, +0.79%, Nvidia Corp. NVDA, -2.77%, Tesla Inc. TSLA, +0.83% and Google parent Alphabet Inc. GOOG, +0.59% GOOGL, +0.55%, span across the S&P 500’s information-tech, consumer-discretionary and communication-services sectors.

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