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Tech firms dominating US stock market
It reflects the diminishing influence of banks, which held a much larger share of the S&P 500 in the years before the financial crisis
Add BT as a preferred sourcePublished Tue, Aug 23, 2016 · 09:50 PM
New York
DON'T look now, but technology companies are exerting more control over the US stock market than any time since the Internet bubble.
Fuelled by three-year rallies in which Microsoft Corp and Alphabet Inc doubled, Amazon.com Inc tripled and Facebook Inc surged fivefold, computer and software stocks have increased to almost 21 per cent of the S&P 500 Index's value, near a 15-year high. The distance between tech and the next-biggest group, banks, is close to the widest ever.
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