Investors are selling U.S. tech stocks at a record pace, with the Nasdaq lagging behind the S&P 500

According to Gate market data, from July to date, the equal-weighted Nasdaq 100 Index has underperformed the equal-weighted S&P 500 Index by 6.8 percentage points, marking the worst single-month relative performance on record.

The equal-weighted S&P 500 Index has risen by 2.2% this month, while the equal-weighted Nasdaq 100 Index has fallen by 4.6%. Investors are cashing out of tech stocks at a record pace.