One of the few guarantees investors are given on Wall Street is the assurance of short-term unpredictability. Since the start of 2021, we've witnessed three vastly different stock markets.

In 2021, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S 500 (SNPINDEX: ^GSPC), and growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) all motored to multiple record-closing highs. This was followed in 2022 by the Dow, S 500, and Nasdaq Composite plunging into a bear market and producing their worst full-year returns since 2008. In 2023, Wall Street is roaring once more, albeit a relatively small group of high-growth, megacap stocks are responsible for virtually all of this year's gains.

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Source Fool.com