by Wolf Richter
These 10 stocks, weighing 25% of the total market, are on one heck of a ride, now in the wrong direction. Rest of market has gone nowhere in nearly 3 years despite huge volatility.
The FANGMANTIS struck again. This WOLF STREET index of ten giant tech stocks, accounting for 25.5% of the total stock market capitalization as tracked by the Wilshire 5000, fell 1.1% today, though the broader market eked out a minuscule gain, with the S&P 500 up a hair.
These 10 stocks – Facebook, Apple, NVIDIA, Google parent Alphabet, Microsoft, Amazon, Netflix, Tesla, Intel, and Salesforce.com – are considered “tech” though they’re also into ecommerce, auto manufacturing & auto retailing, social media, film production and distribution, and the like.