‘Stay-at-Home’ Safety Trade Unravels With Big Tech Left Behind
- Nasdaq 100 on track for longest losing streak since March
- S&P 500 climbs for eighth straight day, approaches record
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An oddity is occurring as the stock market grinds back to an all-time high: Big tech is getting left behind.
A risk-on rotation rippling across markets has the tech-heavy Nasdaq 100 flirting with a third straight loss -- which would be its longest slide since March -- as the S&P 500 climbs for an eighth consecutive day and approaches its February record. Meanwhile, the battered Russell 2000 gauge of small caps is staging a comeback, with a jump of more than 12% over the past month.