Investors are profit-taking in U.S. tech at record speed: equal-weight
Nasdaq-100 has labeled equal-weight S&P 500 by 6.8 percentage points MTD through
July, potentially its worst monthly relative performance on record. Equal-weight
S&P 500 is up 2.2% MTD and near record highs; equal-weight Nasdaq-100 is down
4.6% MTD and near its lowest since mid‑May. Tech had outperformed for four
months prior; in the past 20 years tech’s average has never labeled the S&P 500’s
average by more than 5 percentage points.