GenTrust Head of Equities Olivier Sarfati in The Wall Street Journal

Five Big Tech Stocks Are Driving Markets. That Worries Some Investors

Narrowing market breadth can herald declines in stocks, analysts say

The stock market’s rise this year has narrowed around a short list of big tech companies, a sign of possible weakness heading into 2022.

Five of the biggest stocks in the S&P 500 account for more than half of the broad benchmark’s gain since April, analysts at Goldman Sachs found. Of the S&P 500’s 22% advance this year, those stocks— Microsoft CorpMSFT +1.93% Nvidia CorpNVDA +3.73% Apple Inc., AAPL +0.84% Alphabet IncGOOG 1.40% and Tesla IncTSLA +3.25% —are responsible for around a third.

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