The Nasdaq stock index crossed the 4000 barrier last week, reaching that height for the first time since 2000. But unlike the S&P 500 and the Dow Jones industrial average, it's not anywhere close to setting new all-time highs. On March 10, 2000, in the midst of the dot-com craziness, the Nasdaq peaked at more than 5000.
It's a very different index now. The tech companies that fueled the Nasdaq back then have become less of a component since those heady days. In 1999, traditional technology stocks constituted 66 percent of the Nasdaq, whereas they've dropped to less than half now, at just 45 percent.
What's been replacing those tech stocks? Since 1999, health-care stocks have jumped from 6 percent of the Nasdaq to 14 percent now, while consumer stocks have jumped from 5 percent to 17 percent.
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