Stocks ended a volatile quarter solidly in the green, thanks to a healthy rally among tech companies. The S&P 500 rose 7% during the quarter, and the Nasdaq composite climbed nearly 17%.
Interest rates have fallen. The yield on the 10-year T-note, for example, dropped to about 3.5%, from 4% earlier in the year.Facebook parent Meta soared 76% in the first quarter. Tesla climbed 68%.
Chipmaker Nvidia is up an astounding 90% for the year, making it the S&P's big winner so far in 2023.The biggest losers are the regional banks, led by First Republic, which is down nearly 90% so far this year. Nobody knows if the bear market is over; the S&P 500 would have to hit new highs for that to happen — and it's still about 15% below that level.
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