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.
Misc
Charted: Where the U.S. Imports Its Art From
The U.S. imported $8.8 billion worth of art and antiques in 2024, with European countries dominating in import value.

Charted: Where the U.S. Imports Its Art From
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.
The U.S. is the world’s largest art market, accounting for 43% of global art sales in 2024.
As a global market for high-value art and antiques, the U.S. sees significant cross-border trade, with imports fueling its art sales. These items include everything from paintings and sculptures to photos and installations, and are often collectibles for the ultra-wealthy.
This infographic shows the top countries from which the U.S. imported art and antiques in 2024, based on their share of total import value. The data comes from the Art Market Report 2025, by Arts Economics.
European Countries Dominate U.S. Art Imports
In 2024, the U.S. brought in $8.8 billion worth of art and antiques from foreign countries, which made up more than one-third of its $24.8 billion in total art sales.
European countries were the biggest exporters of art to America, accounting for 68% of total U.S. art imports.
The table below breaks down U.S. art imports by country in 2024, based on the share of total import value:
Country | Share of Value of imports in 2024 |
---|---|
France 🇫🇷 | 26% |
UK 🇬🇧 | 19% |
Italy 🇮🇹 | 12% |
Germany 🇩🇪 | 11% |
China 🇨🇳 | 1% |
Other countries 🌏 | 31% |
France, known for its influential art history, accounted for over a quarter of the total value of U.S. art and antique imports in 2024, followed by the U.K. at 19%.
With Italy and Germany rounding out the top four, European countries exported nearly $6 billion worth of art to the United States.
Meanwhile, China ranked fifth with a 1% share in U.S. art imports. However, it remains a significant export market, accounting for 13% of U.S. art exports in 2024.
How Will Trade Tensions Affect Art and Antiques?
With heavy reliance on international trade, the global art market faces headwinds from trade tensions in 2025.
According to Art Economics, tariffs from the Trump administration and potential countermeasures from other countries are likely to dampen cross-border art trade through both direct impacts and indirect regulatory uncertainties.
European art markets and the U.S. are most susceptible to trade escalations, with the U.K., Switzerland, France, and Germany also accounting for 57% of U.S. art exports in 2024.
Learn More on the Voronoi App 
Learn more about the current state of U.S. tariffs in this infographic on the Voronoi app.
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