Weekend reads: What exactly is going on with big tech stocks?
MarketWatch
3 hrs ago
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Shares of Amazon are little changed this year, underperforming the S&P 500 Index, which has risen 11%. (Getty Images)
After many years during which the most familiar technology companies pulled the entire stock market up with them, 2021 is turning out to be a slow one for big tech.
Here’s how the 11 sectors of the S&P 500 have performed this year through May 20 (with dividends reinvested):
Information technology has been this year’s second-weakest performer, with consumer discretionary taking the bottom spot. (That sector includes Amazon.com Inc. ) That follows a stellar 44% return during the pandemic year of 2020. You can also see that IT has been the market’s long-term leader.