The S&amp;P 500 slipped for a second consecutive session on Monday as weakness in artificial intelligence-linked technology stocks weighed on sentiment, and Polymarket traders are betting the benchmark index could extend its losing streak at Tuesday’s open.



The S&amp;P 500 closed down 0.07% at 7,403.05 on Monday and the May 19 Polymarket contract implied a 40% probability that the S&amp;P 500 would open higher on Tuesday.



<figure class="wp-block-image size-large is-resized"><img width="1024" height="546" src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/05/19044855/Screenshot-2026-05-19-at-14.18.22-1024x546.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/05/19044855/Screenshot-2026-05-19-at-14.18.22-1024x546.png"/></figure>



<h2>Why That Number Matters</h2>



The latest pullback comes after a record-setting rally that pushed both the S&amp;P 500 and Nasdaq Composite to all-time highs last week.



Technology stocks, particularly those tied to the artificial intelligence trade, came under pressure Monday after Seagate (NASDAQ:STX) CEO Dave Mosley warned at a JPMorgan conference that expanding manufacturing capacity to meet booming AI-driven demand “would just take too long.”



The comments sparked concerns about supply constraints across the semiconductor and memory-chip ecosystem, sending Seagate shares down nearly 7% and dragging peers lower.



Investors are also monitoring geopolitical developments after President Donald Trump said Monday he was calling off a planned attack on Iran following requests from regional leaders to “hold off.”



<h2>The Bull Countercase</h2>



Despite recent weakness, Wall Street remains near record levels after a powerful earnings-driven rally.



Markets have also been supported by easing concerns around an immediate escalation in the Middle East after Trump’s decision not to proceed with military action against Iran.



Before Tuesday’s opening bell, investors will be watching earnings from Home Depot (NYSE:HD) along with April pending home sales data.



S&amp;P 500 futures were down 0.23% in early trading.



How The Previous Bet Played Out: The S&amp;P 500 opened Monday at 7,415.07, above Friday’s close of 7,408.50, meaning the May 18 Polymarket bet resolved “Up.”



Image via Shutterstock

FTXL

SOXX

SOXQ

Polymarket traders are bearish on the S&P 500 following a tech selloff, with a 40% chance of an upward opening on Tuesday. The index fell 0.07% to 7,403.05 on Monday, pressured by AI-related stocks after Seagate's CEO warned of supply constraints. Despite this, Wall Street remains near record highs, supported by strong earnings and easing geopolitical tensions after Trump canceled a planned attack on Iran. S&P 500 futures are down 0.23% in early trading.

- The S&P 500 declined 0.07% to 7,403.05 on Monday due to weakness in artificial intelligence-linked technology stocks.  
- Polymarket indicated a 40% chance of the index opening higher on Tuesday, amid concerns over supply constraints and geopolitical developments following President Trump's recent comments on Iran.  
- Despite the pullback, the market remains close to record levels, with investors focusing on earnings reports and home sales data before the next trading session.

benzinga_article

Seagate Tech

SPDR S&P Semicon

VanEck Semiconductor ETF

VG S&P 500

iShares Core S&P 500

First Trust Nasdaq Food & Semicon

Spdr Select Tech

SPDR S&P 500

iShares Semiconductor ETF

Invesco PHLX Semiconductor ETF

S&P 500

NASDAQ Composite Index

JPMorgan Chase

Home Depot

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

Stock Market: Will S&P 500 Open Up Or Down Today?