Why Is SPY ETF Down Today, 2/27/2026?

2026-02-27 22:51:06

Abstract generation in progress

The SPDR S&P 500 ETF Trust SPY -0.48% ▼ declined 0.48% today, February 27, primarily due to hotter-than-expected inflation data and rising fears about the disruptive potential of artificial intelligence (AI).

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Importantly, SPY closely tracks the S&P 500 Index (SPX), which was down 0.43% in the regular trading session, while the tech-heavy Nasdaq-100 (NDX) dropped 0.3%.

Fund Flows and Sentiment

SPY’s five-day net outflows totaled $1 billion, showing that investors pulled capital out of the ETF over the past five trading days. Meanwhile, its three-month average trading volume is 79.41 million shares.

It must be noted that the retail sentiment for the SPY ETF is negative, whereas hedge fund managers have increased their holdings of the ETF in the last quarter.

SPY’s Price Forecast

According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SPY has a Moderate Buy rating. The Street’s average price target of $830.72 for the SPY ETF implies an upside potential of 21.10%.

Currently, SPY’s five holdings with the highest upside potential are:

Oracle ORCL -3.27% ▼
Intuit INTU +3.70% ▲
ServiceNow NOW -1.18% ▼
Adobe Systems ADBE +1.30% ▲
Datadog DDOG -3.86% ▼

Meanwhile, its five holdings with the greatest downside potential are:

Loews L +0.54% ▲
Moderna MRNA +3.60% ▲
Ciena CIEN +2.21% ▲
Comfort Systems FIX -0.62% ▼
LyondellBasell LYB +2.17% ▲

Revealingly, SPY’s ETF Smart Score is seven, implying that this ETF is likely to perform in line with the broader market over the long term.

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