Economy
Animated Chart: The S&P 500 in 2023 So Far
The S&P 500’s Performance in 2023 Q1
With one quarter of 2023 in the books, how has the S&P 500 performed so far?
The index had a tumultuous 2022, ending the year down 18%, its worst performance since 2008. But so far, despite dealing with tight monetary conditions and an unexpected banking crisis, the S&P 500 has promptly started to rebound.
The above animation from Jan Varsava shows the stock performance of each company on the S&P 500, categorized by sector.
Biggest Gainers on the S&P 500
The S&P 500 increased 7.5% during the first quarter of 2023. Though it was led by a few big outperformers, more than half of the stocks on the index closed above their end-of-December prices.
Here are the top 30 biggest gainers on the index from January 1 to March 31, 2023.
Rank | Company | 3-Month Return |
---|---|---|
1 | Nvidia | 90.1% |
2 | Meta (Facebook) | 76.1% |
3 | Tesla | 68.4% |
4 | Warner Bros. Discovery | 59.3% |
5 | Align Technology | 58.4% |
6 | AMD | 51.3% |
7 | Salesforce | 50.7% |
8 | West Pharmaceuticals | 47.3% |
9 | General Electric | 46.3% |
10 | Catalent | 46.0% |
11 | First Solar | 45.2% |
12 | Monolithic Power Systems | 41.8% |
13 | MarketAxess Holdings | 40.6% |
14 | GE Healthcare Tech | 40.5% |
15 | Arista Networks | 38.3% |
16 | ANSYS Inc. | 37.8% |
17 | Fortinet Inc. | 35.9% |
18 | Wynn Resorts | 35.7% |
19 | Paramount Global | 33.8% |
20 | FedEx Corp | 32.7% |
21 | MGM Resorts | 32.5% |
22 | Royal Caribbean Group | 32.1% |
23 | ON Semiconductor Corp | 32.0% |
24 | Booking Holdings | 31.6% |
25 | Cadence Design Systems | 30.8% |
26 | Skyworks Solutions | 30.2% |
27 | Pulte Group | 28.4% |
28 | Seagate Technology | 27.1% |
29 | Apple | 27.1% |
30 | Lam Research | 26.6% |
Nvidia shares gained the most of all the companies on the S&P 500 in Q1 2023, posting a staggering 90% return over three months.
As the world’s largest chipmaker by market cap, Nvidia gained from both strong earnings and semiconductor industry performance. It also benefited from the rising prevalence of artificial intelligence (AI) through software like ChatGPT.
Meanwhile, other tech giants Apple and Microsoft gained 27% and 21% respectively over the same time period.
Tech Leads Returns by Sector
The technology sector as a whole was the best performing sectoral index thanks to these big moves, up 21.7% at the end of March.
Sector | 3-Month Return |
---|---|
Technology | 21.65% |
Consumer Services | 21.27% |
Consumer Discretionary | 16.60% |
Materials | 4.29% |
Industrials | 3.47% |
Real Estate | 1.95% |
Consumer Staples | 0.72% |
Utilities | -3.24% |
Health Care | -4.31% |
Energy | -4.37% |
Financials | -5.56% |
S&P 500 | 7.5% |
Shares of other tech-adjacent companies like Meta (formerly Facebook) and Tesla—listed on the S&P 500 under the categories of communication services and consumer discretionary—also had a strong start to the year and lifted their respective sectors.
Meta in particular is up 76% in Q1 2023, continuing its rebound after falling to an eight-year low in November 2022 on the back of better-than-expected fourth quarter results and share buybacks.
Biggest Losers on the S&P 500
On the other side of the S&P 500, the financial sector was rocked by sudden collapses.
Signature Bank and Silicon Valley Financial Group shares lost the most ground in the first quarter, after both banks collapsed, shedding nearly all of their value in a matter of 30 days.
In fact, seven of the 10 worst performers on the index to start 2023 are banks or financial companies. The visualization shows the ripple effect on the market after the collapse of regional banks in March, and the ensuing rout driving the entire sector down 5.6% year-to-date.
Here are the top 30 biggest losers on the index from January 1 to March 31, 2023.
Rank | Company | 3-Month Return |
---|---|---|
1 | Signature Bank | -99.8% |
2 | Silicon Valley Financial Group | -99.6% |
3 | First Republic Bank | -88.5% |
4 | Lumen Technologies | -49.2% |
5 | Zions Bancorporation | -38.6% |
6 | Charles Schwab Corp | -36.9% |
7 | Comerica Incorporated | -33.9% |
8 | DISH Network | -33.5% |
9 | KeyCorp | -27.3% |
10 | Lincoln National Corp | -25.8% |
11 | Centene Corporation | -22.9% |
12 | Cigna Group | -22.5% |
13 | APA Corporation | -22.3% |
14 | Citizens Financial Group | -22.1% |
15 | Enphase Energy Inc. | -20.6% |
16 | Baxter International Inc. | -19.9% |
17 | Truist Financial Corporation | -19.9% |
18 | American International Group | -19.8% |
19 | CVS Health Corporation | -19.7% |
20 | Pfizer | -19.6% |
21 | Gen Digital | -19.5% |
22 | MetLife | -19.4% |
23 | Huntington Bancshares | -19.4% |
24 | Fidelity National | -19.3% |
25 | Halliburton Company | -19.2% |
26 | Molina Healthcare | -19.0% |
27 | PNC Financial Services | -18.8% |
28 | Boston Properties | -18.4% |
29 | Fifth Third Bancorp | -17.8% |
30 | Allstate Corporation | -17.7% |
Despite the tight monetary landscape, traditionally defensive sectors like energy, consumer staples, and healthcare also underperformed the broader index. This is a reversal from market trends seen in 2022.
Investment Trends to Watch for in 2023
Experts predict a pause in U.S. interest rate hikes “sometime in 2023” but it’s unclear when (or at what level) the pause will take place given persistent inflation in the economy.
However, if interest rates level off in 2023, it could be a key momentum maker for the S&P 500. As Barron’s points out, the index tends to rise after hikes are paused.
Meanwhile, the current tumult in the financial sector is fanning the flames of recessionary fears. How effectively regulators manage the crisis might be the story of the year.
Finally, as we have seen in 2023 so far, investor interest in AI has sent tech stocks soaring. Is this a quick fad, or an overarching trend for the year?

This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.
Jobs
Ranked: The Top 10 U.S. States by Auto Manufacturing Jobs
The U.S. auto industry employs over 1 million people in 2025, with the top 10 states accounting for over half of the total.

Ranked: The Top 10 U.S. States by Auto Manufacturing Jobs
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Automobile manufacturing continues to be a major source of employment across America, employing over a million people in 2025.
From Detroit’s “Motor City” heritage in Michigan to emerging plants in Southern states like Kentucky and Alabama, the U.S. has several vehicle manufacturing hubs.
This infographic ranks the top 10 U.S. states by total auto manufacturing jobs as of February 2025, using preliminary data from the Bureau of Labor Statistics which only provides data for the top 10 states. It breaks down employment by vehicle manufacturing and assembly, body/trailer manufacturing, and vehicle parts manufacturing.
America’s Auto Manufacturing Hubs by Employees
Together, the top 10 states employ over 520,000 workers in auto manufacturing—making up more than half of the industry’s nationwide employment.
Here’s how the top 10 states stack up by auto manufacturing employment, as of February 2025:
Rank | State | Vehicles Manufacturing | Bodies and Trailers | Vehicle Parts Manufacturing | Total Employees | Annual growth rate |
---|---|---|---|---|---|---|
1 | Michigan | 49K | 0 | 115K | 164K | -3.8% |
2 | Indiana | 0 | 39K | 53K | 92K | -2.0% |
3 | Ohio | 19K | 0 | 65K | 84K | -1.9% |
4 | Kentucky | 24K | 0 | 34K | 58K | -0.7% |
5 | Alabama | 23K | 0 | 30K | 53K | 0.1% |
6 | California | 25K | 0 | 0 | 25K | -6.5% |
7 | Texas | 16K | 0 | 0 | 16K | -0.7% |
8 | Missouri | 14K | 0 | 0 | 14K | 0.0% |
9 | New York | 0 | 0 | 8K | 8K | -0.5% |
10 | Mississippi | 0 | 0 | 6K | 6K | -0.1% |
States in the Midwest remain the centers of auto manufacturing in America.
Michigan leads the pack with 164,000 auto manufacturing jobs, accounting for over 15% of all such jobs in the country. Its dominance is driven by legacy automakers like Ford, General Motors, and Stellantis (previously Chrysler), who have significant manufacturing footprints in Detroit.
States like Indiana and Ohio are also heavily invested in parts production, with Indiana also leading in bodies and trailers manufacturing.
Meanwhile, Southern states are becoming increasingly important for vehicle manufacturing, with Kentucky and Alabama attracting investments from foreign automakers like Toyota, Hyundai, and Mercedes-Benz.
Overall, employment in U.S. auto manufacturing is down 12.7% from a year ago, with the parts manufacturing segment taking the biggest hit at -17.8%. California has seen the biggest decline in jobs in this segment, dropping 6.5% from February 2024 levels.
The State of the U.S. Auto Industry
The U.S. auto industry is facing speed bumps from the latest round of tariffs imposed by the Trump administration, which include a 25% levy on imported auto parts and completely built up vehicles.
S&P Global forecasts that U.S. light vehicle sales will fall by 700,000 units in 2025, and North American production will decline by nearly 1.3 million units as a result of the new tariffs. Increased manufacturing costs from tariffs on auto parts are also likely to result in higher vehicle prices.
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If you enjoyed this infographic, check out this graphic on the Favorite Car Brands of America’s Ultra-Wealthy, on the Voronoi app.
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