S&P 500 sectors: in November 2025, tech stocks take a tumble
Let’s take a look at how the S&P 500 sectors performed in November, and also review the situation from the start of 2025 to today, with less than a month left in the year.
The chart above shows the heat map of the monthly performance of S&P 500 sectors since the beginning of the year. We can see that, so far, the worst monthly performance of 2025 came from the energy sector, while the best monthly return was recorded by the technology sector. Tech stocks are also those that have posted the highest number of monthly gains above 5%.
The recently concluded month of November was particularly eventful. The technology sector posted a decline of nearly five percentage points, while sector rotation favored pharmaceuticals, consumer staples, and materials.
This sector rotation suggests a market searching for direction. The strength of pharmaceuticals and the resilience of technology indicate a preference for sectors with more predictable earnings growth. Weakness in energy and materials may reflect concerns about an economic slowdown.
In the coming months, it will be important to monitor:
- Any signs of a cyclical recovery (Materials, Industrials)
- Whether tech stocks can maintain their leadership
- Potential rotations toward more defensive sectors if uncertainty persists
