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Nike to Exit S&P 100 on September 21, 2026

9/10/2026

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Summary

Nike Exits S&P 100

Nike will leave the S&P 100 index on Sept. 21, 2026.
Nike’s market value fell from $264 billion in Nov. 2021 to about $57 billion, a loss of over $200 billion.
Direct-to-consumer revenue dropped 6% to $17.7 billion in fiscal 2026.
Wholesale revenue rose 6% to $27.5 billion in fiscal 2026.
Greater China sales fell 17% in Q4, driving a 30% revenue drop since 2021.

Summary

Nike Stays Indexed

Nike stays in the S&P 500 and Dow Jones Industrial Average after the September 21 index change.
Index-tracking funds must sell roughly $22 million of Nike shares after its removal from the S&P 100.
Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk will replace Nike in the S&P 100.
iShares S&P 100 ETF held about $20 million of Nike, roughly 0.11% of its assets, before the vote.

History

Historical Context

Lehman Brothers' September 15 2008 Chapter 11 filing—after years of rising leverage and exposure to subprime mortgages—triggered a 4.5% one-day fall in the Dow and forced the Federal Reserve to inject emergency liquidity. The collapse, the largest U.S. bankruptcy, deepened the 2007-2008 credit crunch and led to the $700 billion Troubled Asset Relief Program.

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Nike Exits S&P 100

Nike will leave the S&P 100 index on Sept. 21, 2026.
Nike’s market value fell from $264 billion in Nov. 2021 to about $57 billion, a loss of over $200 billion.
Direct-to-consumer revenue dropped 6% to $17.7 billion in fiscal 2026.
Wholesale revenue rose 6% to $27.5 billion in fiscal 2026.
Greater China sales fell 17% in Q4, driving a 30% revenue drop since 2021.

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