Big Tech Fatigue Drives S&P500's Worst November Since 2008

On November 19, 2025, Barrons published an article highlighting the S&P500’s worst November performance since 2008, driven by “Big Tech Fatigue” [1]. Key contributing factors mentioned in the article URL include Nvidia (NVDA) earnings, AI trends, and Federal Reserve policy.

The S&P500 index declined ~3.4% from November 3 to 18, 2025 (from ~6852 to ~6617) [0]. On November19, the Tech sector underperformed (-0.55%) while Energy (+2.01%) and Utilities (+1.15%) outperformed, indicating a rotation from growth to value stocks [0].

Big tech stocks showed mixed results over 30 days: Microsoft (MSFT) down ~5.64%, NVDA down ~2.79%, Apple (AAPL) up ~4.26%, and Alphabet (GOOGL) up ~16.05% [0]. This divergence suggests tech weakness isn’t uniform.

• S&P500 Nov decline: ~3.4% (Nov3-Nov18)
• Tech sector Nov19 change: -0.55%
• Top sector Nov19: Energy (+2.01%)
• GOOGL 30-day gain: +16.05%
• MSFT 30-day loss: -5.64%

1. Directly impacted stocks: AAPL, MSFT, NVDA, GOOGL
2. Sectors: Tech (weak), Energy (strong), Utilities (strong)
3. Broad market: S&P500

• Information gaps: Full Barrons article content unavailable; need to verify NVDA earnings details and Fed policy impacts.
• Market sentiment: Rotation to defensive sectors signals investor caution.

• Market volatility: S&P500’s November decline may signal further downside if tech weakness persists.
• Tech divergence: Investors should evaluate individual tech stocks rather than the sector as a whole.