Investors are cashing out of US tech stocks at a record pace

According to institutional analysis, so far in July, the equal-weight Nasdaq 100 index has underperformed the equal-weight S&P 500 index by 6.8 percentage points, potentially marking its worst monthly relative performance on record. This comes after equal-weight tech stocks had outperformed the broader market for four consecutive months. Over the past 20 years, there has never been a case where the average performance of tech stocks lagged behind the average performance of the S&P 500 by more than 5 percentage points. Meanwhile, the equal-weight S&P 500 index has risen 2.2% so far this month, reaching historically high levels. In contrast, the equal-weight Nasdaq 100 index has fallen 4.6%, nearing its lowest level since mid-May. Investors are cashing out of tech stocks at a record pace. (Jin Shi)