Equity Market Concentration - Market Capitalization of 10 Largest Companies as Share of S&P 500 Total

What once echoed the market now sets the tempo. The top 10 names in the S&P 500 account for 39% of the index and 38% of its earnings, pushing up multiples and amplifying day-to-day swings.

Image: Goldman Sachs Global Investment Research

Equity Market Concentration - Market Capitalization of 10 Largest Companies as Share of S&P 500 Total