The S&P 500’s tech sector just had its worst week in a year and a half, while an equal-weighted version of the index cemented a second-straight weekly advance.
Surging Treasury yields have begun to hammer parts of the stock market that might easily be overlooked, especially with the spotlight once again shining brightly on a small group of glamorous tech companies.
The lack of clarity around crypto’s regulatory framework hasn’t stopped bitcoin from surging, as investors haven’t abandoned hopes for clearer U.S. rules.
For six months, investors had a playbook: when Trump threatens Iran, buy the dip, because he always backs down. But in September, the playbook stopped working.
For years, the S&P 500’s earnings engine had only one driver: the “Magnificent Seven.” This quarter, the rest of the market has started pulling its weight.