The market’s seemingly narrow leadership this year has raised concern about a potential market downfall similar to the one experienced around the turn of the millennium.
The S&P 500 has stormed back to positive territory for the year this week after being down more than 30% for 2020 at one point. A big chunk of that rally has been driven by gains in six of the major tech-related names — Facebook, Amazon, Apple, Netflix, Google-parent Alphabet and Microsoft.