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Here’s a word you don’t hear much these days: Magnificent.
Based on intraday pricing, America’s tech megacaps are in a bear market, having lost more than 20 per cent from Christmas Eve record-high close.
The above chart uses UBS’s Mag7 index, which is fixed to 100 on incorporation in October 2023 and rebalances twice yearly. Arguments about technical bear-market definitions are for the comment box.
Below is the view from an individual stock level. Click the stock names to turn the lines on and off.
Maybe we can worry a bit less now about stock-market concentration?
Further reading:
— Global stock markets tumble as Donald Trump’s tariffs loom (FT)
