Just looking at a chart, 2025 has been a terrific year for the stock market. The benchmark S&P 500 broke out of its slump induced by tariffs in April, and it’s currently up more than 16% on the year.
However, that breakout following the “Liberation Day” fall was primarily driven by a small group of stocks. So while it’s good news that the market rebounded from what could have been a significant fall, it’s also a little disconcerting to think the larger index has essentially been dragged out of its slump by just a handful of its 500 component stocks.
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