Mag 7 Stocks Lose Dominance as Tech Sector Flows Cool
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The once-dominant Magnificent 7 tech stocks are seeing their influence wane in the S&P 500, with their collective weighting dropping from 34% to 29% since January. The Roundhill Magnificent 7 ETF (MAGS) has plummeted 17% year-to-date, more than double the S&P 500’s decline.
Strategas ETF strategist Todd Sohn notes a broader shift in investor sentiment: "Index concentration has cooled for the moment, and along with this, so have Tech sector flows." The market cap-driven power of these tech giants diminishes as their performance falters, creating space for capital to rotate into other sectors.
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