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By Staff Reporters
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What it is: The NASDAQ Composite is an index composed of 2,500+ stocks as well as other equities such as American Depository Receipts [ADRs] and Real Estate Investment Trusts [REITs].
How it works: Unlike the DJIA, the NASDAQ weights by market cap (number of outstanding shares a company has multiplied by the share price), a setup that gives extra-large companies an extra-large impact. The NASDAQ is also heavily skewed toward tech companies, which account for nearly half the index’s total value.
Why it matters: As the world’s first electronic [e]-exchange, the NASDAQ has historically attracted more tech-focused companies. While the index tracks more stocks than the S&P and Dow combined, tech’s heavy influence means the NASDAQ doesn’t always illustrate how other industries are faring. The index can also be volatile because it includes more small, speculative companies.
CITE: https://www.r2library.com/Resource
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And so, Big Tech and the NASDAQ suffered big losses yesterday after Tesla and Alphabet posted disappointing quarterly results the day before.
The Magnificent Seven tech stocks lost a combined $750 billion in market cap for their worst day ever, while the S&P 500 and the NASDAQ had their worst days since 2022—with the S&P ending its longest streak without a 2% dip since the financial crisis began in 2007, as per Bloomberg.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Glossary Terms, Health Economics, Investing | Tagged: ADRs, Alphabet, big technology, Bloomberg, DJIA, DOW, magnificent seven, REITS, S&P 500, Tesla |
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