There’s a huge chance that the bubbles are starting to burst in these high-tech stocks. That’s important because of their weighting in the S&P 500. So these stocks have a bigger impact, because while it’s 500 companies…it’s not 500 equally divided companies. These stocks hold a higher weighting/percentage of the index. Just the top two are huge %’s for just two stocks in the index.
Additionally, I believe the Tesla bubble is likely popping now too.