The year 2022 turned many of the stock market’s former darlings into duds.
For the better part of the previous decade, investors crowded into shares of fast-growing technology companies whose strong gains year after year reinforced bets that they had nowhere to go but up. Surging prices for such stocks as Facebook parent Meta Platforms Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google owner Alphabet Inc. propelled major indexes to dozens of new highs.
