Big technology stocks have led Wall Street gains for most of 2023 as investors sought to park their money in companies with steady earnings and strong balance sheets, immune to rising interest rates and an "impending recession."
For instance, the Nasdaq 100 Index, dominated by Big Tech stocks like Apple, Microsoft, Amazon, Nvidia and Meta, has gained 46% year-to-date, compared to 18.68% of the S&P 500 and 3.13% of the Russell 2000 small caps index.
