The performance of different sectors in the US stock market to date in 2023 shows a distinct disparity. While technology stocks have entered a bull market after climbing more than 20% from their lows, equities on the Dow 30 and S&P 500 continue to struggle for buyers. The reason for only tech stocks to appreciate could be that investors believe inflation and rates have peaked and that the tech sector will be a safe haven throughout the banking crisis.

Since January, a downtick in inflation has not made much impact on Fed’s rate hike decision. In fact, over the last three months, Powell and other Fed officials called for sustained action to bring inflation further down by continuing to hike rates. However, the banking crisis may have put a brake on the Fed’s plot of remaining aggressive in its approach. The next rate of 25 basis points in May is believed to be the last before Fed pauses. Will it go as per the market’s expectations, only time will tell.

Here are the top gainers and losers listed on the three leading US stock market indices – Nasdaq 100, S&P 500 and Dow 30. ( YTD, As of March 31, 2023)

S&P 500 – Top Gainers

NVIDIA Corporation: 90%

Meta Platforms: 76%

Tesla: 68%

Warner Bros. Discovery: 59%

Align Technology: 58%

Advanced Micro Devices: 51%

Salesforce: 50%

S&P 500 – Top Losers

First Republic Bank: -88%

Lumen Technologies, Inc.: -49%

Zions Bancorporation, National Association: -39%

The Charles Schwab Corporation: -37%

Comerica Incorporated: -35%

DISH Network Corporation: -33%

DOW 30 – Top Gainers

Salesforce, Inc.: 50%

Apple Inc.: 27%

Intel Corporation: 23%

Microsoft Corporation: 20%

DOW 30 – Top Losers

3M Company: -12%

Johnson & Johnson: -12%

UnitedHealth Group Incorporated: -11%

Honeywell International Inc.: -10%

Nasdaq 100 – Top Gainers

NVIDIA Corporation: 90%

Meta Platforms, Inc.: 76%

Tesla, Inc.: 68%

Warner Bros. Discovery, Inc.: 59%

Align Technology, Inc.: 58%

Seagen Inc.: 57%

MercadoLibre, Inc.: 55%

Advanced Micro Devices, Inc.: 51%

Nasdaq 100 – Top Losers

Sirius XM Holdings Inc.: -32%

JD.com, Inc.: -22%

Enphase Energy, Inc.: -20%

Rivian Automotive, Inc.: -16%