The market has only been this concentrated once before, during the Great Depression in the United States đ
Look at the market value of the top 10% of companies in the S&P 500. You will see that companies such as Apple, Nvidia, and Microsoft, dominate the index's total value.
Why it matters: The biggest companies - especially the giant tech firms known as the "Magnificent Seven" - increasingly stand astride corporate America and the broader economy as colossi.
đ This means that the entire US economy, and the economies of many countries around the world, are somewhat dependent on things like Nvidia's quarterly reports, Apple's earnings reports, and so on.
If something happens to those companies, things will get very bleak very quickly đš
