Hoping for a Stock Market Rally? Big Tech May Get in the Way.

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Investors hoping for a January bounce in the

S&P 500

may have to be patient because the gigantic tech companies that account for a fifth of the index could have further to fall.

It’s no secret that technology was one of the least loved sectors in 2022. While the S&P 500 fell 19% last year, the Nasdaq Composite, heavily exposed to tech, dropped 33%.