Big Tech’s drop means more balance for S&P 500, 401(k)s
By STAN CHOE
AP Business Writer
NEW YORK (AP) — The biggest companies have less of a stranglehold on the stock market — and likely on your 401(k). The 10 most valuable U.S. stocks now account for less than a quarter of the S&P 500, the lowest proportion since the pandemic began reordering the economy in February 2020. A big reason for the drop in the stock market’s top-heaviness is the dramatic fall for the Big Tech stocks that had come to dominate it. And that matters because trillions of dollars in U.S. funds directly mimic the S&P 500, with trillions more benchmarking themselves against it.
