Big Tech’s Dominance in Stock Market Hits Breakpoint for Nasdaq 100

(Bloomberg) -- America’s biggest tech companies have become too large even for the stock index tracking America’s biggest tech companies. The seemingly unstoppable growth of megacaps like Apple Inc. and Microsoft Corp. mean they have breached an upper limit imposed on stocks in the Nasdaq 100. The Nasdaq methodology paper says a rebalancing may be enacted to reduce the group’s influence to 40%. The traditional version of the Nasdaq 100 was flat, while the one that strips out market cap bias climbed 1.8%. Most Read from Bloomberg Businessweek©2023 Bloomberg L.P.