On Thursday, the Nasdaq Composite and S&P 500 both experienced declines as tech companies and airlines saw their shares tumble. This was offset by shares in other sectors that could benefit from lower interest rates, which rose due to expectations that the Federal Reserve may soon cut its benchmark rate. The Russell 2000 index, for smaller companies, saw a significant 3.7% rise. This decline marked the end of a seven-session winning streak for the major indexes, which had been hitting record highs recently. The recent rally in the market has been driven by strong tech performance and hopes for a Fed rate cut in September. Although tech stocks like Nvidia and Apple saw losses, sectors like homebuilders and real estate companies saw gains on the prospect of lower rates. The Fed is now anticipated to begin cutting rates in September, with a 93% chance, as per CME Group’s data analysis tool.