Meanwhile, the “Big Tech” stocks that had been leading markets tumbled across the board. Just look at the MoneyShow Chart of the Week for July 22, 2024. It shows the 1-month percentage change in the iShares Russell 2000 ETF (IWM), the Invesco QQQ Trust (QQQ), and the S&P 500 ETF Trust (SPY). In a recent seven-day stretch of trading, the Russell 2000 outperformed the S&P 500 by the widest margin since data was first collected in 1986. The same thing has been true in the S&P 500, as you can see in this chart from Forbes.com.

Source: Forbes July 22, 2024 19:26 UTC