Credit Suisse elaborated which stocks suffered the most from the S&P 500’s returns this year, January through October!
Not surprisingly the Tech companies dominated the list.
Tweet on tech stocks fluctuation amid crisis
Tech Stocks-the S&P 500's biggest drags thus far.
CreditSuisse elaborated which stocks suffered the most from the S&P 500's returns this year, not surprisingly the Tech companies dominated the list! pic.twitter.com/lM1L8ZAuIw
— The_Journalbiz (@the_journalbiz) October 4, 2022
the list of S&P’S 500 tech stocks
Almost all the high growth stocks were the first to fall
Historically, when interest rates rise and borrowing costs go up, investors pull out money from the riskier parts of the economy. High growth companies and tech stocks are the first to see their stocks fall.
This time is no different. The S&P 500’s worst stock performer to date is Netflix, which is down 60%. Followed by Meta, Paypal and Nvidia.
It’s an incredible reversal for a company that saw it share price skyrocket during the pandemic, when the streaming service became a lifeline for the locked down.
The second-worst performer is Etsy, the online marketplace for art and craft from artisans, which is down almost 65%.