S&P 500 Just Had Its Worst Quarter vs. Global Stocks Since 1988: What's Driving The Rout
Benzinga (Mon, 31-Mar 10:16 PM)
The S&P 500, tracked by SPDR S&P 500 (NYSE:SPY), has recorded its largest quarterly underperformance against global markets in 37 years.
What Happened: The U.S. benchmark index trailed the MSCI All Country World Excluding United States Index by the widest margin since 1988, according to Bloomberg data shared by Barchart on Monday.
The performance gap marks a notable reversal from recent years when U.S. stocks frequently outpaced international markets.
Large-cap technology stocks drove much of the quarterly decline, according to data from Benzinga Pro. Trade Desk (NASDAQ:TTD) fell 53.99%, Deckers Outdoor (NYSE:DECK) dropped 46.13%, and Marvell Technology (NASDAQ:MRVL) lost 45.40%. Tesla Inc. (NASDAQ:TSLA) ...
