The S&P 500’s information technology sector is down 20% from 2022 through Wednesday, its worst start in a year since 2002. Its gap with the broader S&P 500, down 14%, is the level. The biggest drop since 2004. This drop has investors interested. to hit a record $7.6 billion this year from tech-focused mutual and exchange funds through April, according to Morningstar Direct data from 1993.