Investors Sell U.S. Tech Stocks at Record Speed

On July 30, the equal-weighted Nasdaq 100 index underperformed the equal-weighted S&P 500 index by 6.8 percentage points, marking the worst single-month relative performance on record. Previously, equal-weighted tech stocks had outperformed the market for four consecutive months. In the past 20 years, there has never been a situation where tech stocks lagged the S&P 500 average performance by more than 5 percentage points. Meanwhile, the equal-weighted S&P 500 index rose 2.2% this month, reaching historical highs, while the equal-weighted Nasdaq 100 index fell 4.6%, nearing its lowest level since mid-May. Investors are cashing out of tech stocks at a record pace.

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