Sector Rotation Accelerates: Mega-Cap Tech Selloff Reveals Hidden Breadth
Capital is leaving mega-cap technology at a pace not seen since the first quarter of 2022, and the destination tells you everything you need to know about where the market actually stands. SPY, the S&P 500 ETF, closed Friday at $738.18, down 1.23% on the session and sitting 2.9% below its all-time high of $760.40. But the index level is almost beside the point. Beneath it, a rotation of real force is underway: industrials gained 1.73% on Friday while consumer discretionary lost 4.61%, a spread of 634 basis points in a single session. The S&P 500 is not breaking down. It is being rebuilt from the inside out.
Key Takeaways SPY closed Friday at $738.18, down 1.23%, sitting 2.9% below its all-tim…
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