quick take
- The S&P 500 and Nasdaq Composite are up as of 2023. The S&P is up more than 9% and the Nasdaq Composite is up 25% year-to-date.
- However, a closer look at the data reveals that the only gains in the index come from stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Tesla and Nvidia.
- The stocks of these seven tech companies have risen $3.16 trillion since the beginning of the year, or 46%, according to the INC. Jerone Brocklandfounder of investment research firm True Insights
- But the market capitalization of the other 493 stocks in the S&P 500 index has fallen by $0.85 trillion, or 3%, this year, according to Brockland.
- Meanwhile, Nvidia has posted an extraordinary gain of more than 158% this year, posting one of the largest one-day gains in U.S. stock market history on May 25, according to data compiled by Bloomberg and Yahoo Finance. It is said that Statista.
Post-S&P, Nasdaq Soars in 2023 Thanks to Big Tech Stocks, First Appeared on CryptoSlate
