Fact CheckThe Illusion of the Boom
Most people assume a healthy mix. The reality is over 60 percent. Specifically, the "Magnificent 7" accounted for a staggering 63 percent of the index's total returns. This severe concentration masks a deeply fragile market. Remove the massive market-cap advantage of Big Tech. Give every company in the S&P 500 the exact same index weight. The economic picture shifts violently.