{
  "id": 6314154,
  "title": "Nike exits the S&P 100 after 18 years and a $200 billion market-cap wipeout",
  "url": "https://urgent.news/2026/09/08/nike-exits-the-s-p-100-after-18-years-and-a-200-billion-market-cap",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T18:35:32.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/09/08/nike-stock-plummets-sp500-market-cap-index/"
  },
  "original_language": "en",
  "account": "Nike, the leading sports and athletic-wear company, is set to exit the S&P 100 after 18 years and a $200 billion market-cap decline. The athletic apparel giant has lost over $200 billion in market cap since its all-time high in 2021, a near 80% drop in just five years. Recently, Nike's share price has fallen to around $38, down 78% from its $264 billion peak in November 2021. The company's current valuation is approximately $57 billion. Nike will leave the S&P 100 on September 21, 2026, as changes in the index design make it less representative of the current market-cap ranges. Information technology sector companies, such as Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk, will take its place. Nike's investor report attributes its decline to deteriorating underlying business, with revenue falling 2% in fiscal 2026. Greater China remains a challenge for the company, with sales dropping 17% in the fourth quarter. Nike has also struggled with its direct-to-consumer business, which fell 6% in fiscal 2026. The company has been focusing on rebuilding wholesale relationships, reducing excess inventory, and emphasizing performance products. CEO Elliott Hill believes that the company is making meaningful structural improvements, but Nike continues to face headwinds in the top line. The company's decline has been exacerbated by competition from Chinese brands and international rivals.",
  "summary": "The sportswear giant will be replaced by a tech company on Sept. 21, capping a five-year, nearly 80% stock slide driven by China weakness.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}