Hyperconcentration in the US stock market may be nearing a peak.
Against a backdrop of disappointing economic news, stock market volatility has flared in recent weeks, and AI-focused tech titans have sustained some of the sharpest declines. Days after reporting robust earnings growth, semiconductor giant Nvidia plummeted 14% in a week, resulting in a $406 billion loss in market value, the largest weekly loss in dollars for any company in history. Microsoft, Meta and Alphabet have also seen their shares swing from gains to losses since early August.
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