by Wolf Richter
Entire market of 3,451 stocks minus “Giant 5” is down 1% from Jan 2018. But wow, the volatility! You would have been better off with a despicable freaking savings account.
The market capitalization of the five largest stocks combined – the “Giant 5:” Apple, Microsoft, Amazon, Alphabet, and Facebook – rose to a new record today of $6.18 trillion. Since their combined low point on March 16, their market capitalization has soared by 51%. That’s an increase of $2.1 trillion in a little over three months. Since January 2017, my Giant 5 index has soared by 164% (market cap data via YCharts):