After outperforming the Nasdaq by the widest margin in two decades last year, the Dow Jones Industrial Average has sunk back into third place in 2023. And with little exposure to the stock-market craze of the moment — artificial intelligence — some wonder if this underperformance is destined to continue for the foreseeable future.
After Nvidia Corp. delivered its blockbuster earnings on Wednesday evening, the chip-maker’s shares soared an astromonical 24.4% on Thursday, a huge move for a company that’s already one of the largest by market capitalization. But the Dow missed out, and when the dust had settled, the Nasdaq had outperformed it by the widest margin since February, according to Dow Jones Market Data. Thursday’s session was also the 100th trading day of 2023, which gave way to another depressing factoid about the Dow’s performance. During the first 100 trading days of the year, the Nasdaq
has now outperformed the blue-chip index
by more than 22 percentage points, the widest margin since the Nasdaq’s launch in 1971, according to Dow Jones Market Data. The S&P 500
has also blown past the Dow, beating it by more than 9 percentage points through the first 100 sessio …
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