S&P 500 Drops 0.5% as Atlanta Fed Lowers GDP Forecast

The S&P 500 closed the trading week ending Friday, October 23, 2026, at 7,623.68, marking a decline of just under 0.5% from the previous week. This closing value sits 2.5% below the record-high close of 7,818.93 established on October 6, 2026.

Simultaneously, the Federal Reserve Bank of Atlanta adjusted its economic outlook for the United States. Using its GDPNow tool, the agency lowered its projection for real GDP growth in the third quarter of 2026 by 0.1%, bringing the current estimate down to 3.1%.