Dow Jones outperforms Nasdaq for the first time since 2022

Energy and financials carried the old-school index while a tech selloff dragged the Nasdaq into correction territory For the first time since 2022, the Dow Jones Industrial Average is beating the Nasdaq. The blue-chip index has quietly taken the lead from its tech-heavy rival. The flip happened fast. One month earlier, the Nasdaq led the Dow by more than ten percentage points, and a gap that size usually doesn’t close in a matter of weeks. How the Dow pulled ahead The scoreboard tells the story. As of late July 2026, the Dow had posted a year-to-date total return of 9.1%. The Nasdaq Composite sat at 7.8% over the same stretch. The Dow also edged past the S&P 500, which stood at 9%. The divergence sharpened from October into mid-November 2026. Over that window, the Dow gained 2.46% while the Nasdaq 100 slid 1.86%. That works out to a 4.32 percentage point margin in the Dow’s favor. Semiconductor weakness did much of the damage on the Nasdaq side. Then came November 5. On that single trading day, the Nasdaq Composite dropped 5.52%, its steepest one-day fall in 19 months. The move pushed the index into correction territory. The Dow didn’t escape unscathed, falling 3.44% that same ...