Technology stocks decline while value stocks gain market share

Technology stocks have fallen sharply in recent weeks, while older, cheaper stocks have gained. The Nasdaq-100 dropped about 5% over six weeks, though it is still up 14% this year. At the same time, the Vanguard Value ETF has risen around 4% since June 1, and is up 15% for the year. The Vanguard Growth ETF had its worst single day since December 2022, losing more than 3.5% in one session. Many investors have decided that big tech companies are now too expensive. They have moved their money into sectors that look cheaper by comparison. The energy sector has been the top performer in the S&P 500 this year, which is up 10% overall.