The Nasdaq Composite is now leading the Dow Jones Industrial Average by 18.3%, its widest margin of outperformance since 1991 as of Tuesday's close while the...
The Nasdaq Composite is now leading the Dow Jones Industrial Average by 18.3%, its widest margin of outperformance since 1991 as of Tuesday’s close while the blue-chip gauge erases its year-to-date gain, according to Dow Jones Market Data.
After falling more than 300 points during Tuesday’s session, the Dow closed in the red for the year for the first time since May 4. The stock benchmark also finished below its 50-day moving average — a closely watched technical indicator — for the first time since March 30. At the time, the Nasdaq was dominated by shares of Costco Wholesale Corp. COST , Cisco Systems Inc. CSCO and a smattering of biotech firms, among others, according to Gene Goldman, CIO of Cetera Financial Group.
Meanwhile, small-caps, financial services stocks, energy stocks and healthcare stocks have declined since the start of the year. The Russell 2000 RUT , a gauge of small-cap stocks, is down 1.4% since the start of 2023.
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