Investors will remember 2022 as the year the Big Tech narrative finally broke, ending a multi-year stretch of powerful market leadership. The coming year offers few signs of relief.
Marquee stocks such as Amazon.com Inc., Alphabet Inc., Tesla Inc., Nvidia Corp. and Meta Platforms Inc. have lost a third of their value or more this year, and the tech-heavy Nasdaq 100 Index has fallen. 29%wiping out about $5.6 trillion in market value.
