S&P removes Nike from S&P 100 after 80% fall from peak

Nike, ticker NKE, will be removed from the S&P 100 at month-end after an 80% decline from its record high. The company has lost 230 billion dollars in market capitalization from its peak, ending a near 18-year tenure in the index. Source

Key facts

- Index: S&P 100 removal scheduled for the end of this month
- Tenure: Approximately 18 years in the S&P 100
- Drawdown: Minus 80% from all-time high
- Market cap change: Minus 230 billion dollars since peak

Market implications

- Passive flows: Removal from a major index typically triggers selling by index-tracking funds
- Risk sentiment: A large-cap consumer stock exiting the S&P 100 signals broad equity weakness, which can increase risk-off behavior across assets including crypto