Markets & Crypto
The Kobeissi Letter
Public Telegram feed monitored for macro-market headlines and commentary.
Original English English
US tech stocks are rewriting the record books:
The Information Technology Sector now accounts for 37% of the S&P 500’s market cap, an all-time high.
This percentage has nearly DOUBLED since the 2020 market bottom.
To put this into perspective, the 2000 Dot-Com Bubble peak was 35%.
As a result, the tech sector's market cap is now up to a record $29 trillion.
Technology stocks also account for a record 91% of total US GDP.
Meanwhile, the remaining 10 sectors collectively account for $49 trillion of the $78 trillion in US market capitalization.
The market has never been more driven by one sector.
(@TheKobeissiLetter)