Tech Stocks Are Doing Something Not Seen in 97 Years
As investors likely realized last year, putting your money to work on Wall Street can be an adventure, at least in the short run. In 2022, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S 500 (SNPINDEX: ^GSPC), and growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) were all (at least briefly) entrenched in a bear market, with the Nasdaq taking the brunt of the pain (down 33%).
But 2023 has been a different story thus far. Whereas the Dow is relatively unchanged for the year, as of this past weekend, the Nasdaq Composite has rocketed higher by 17%. This outperformance is being led by brand-name, megacap companies, predominantly found in the tech sector.
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Source Fool.com
