The 30-stock index is up 2.4% in 2023 but is badly trailing the Nasdaq Composite Index, which has surged 14%. Largely home to technology and other growth stocks, the Nasdaq is off to its best start since 1991, and the spread between the indexes is the widest since 2000 for any year through Feb. 8.led the way last year
—consumer staples, utilities and healthcare—are among this year’s weakest performers. Meanwhile, the furious rally in tech stocks and other speculative assets is drawing comparisons to the pandemic-era bull market. “Both the bulls and the bears have been emboldened by this rally,” said Peter Atwater, author of investor-sentiment-focused newsletter Financial Insyghts. “I don’t sense any level of capitulation on either side.”
High inflation and the resulting surge in interest rates wreaked havoc in financial markets last year. Investors took shelter in blue chips such as
But Dow didn't plunge 30%.
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