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Open original source ↗Crazy but true…
If 94% of the stocks in the S&P 500 went to ZERO leaving only the highest market cap stocks (top 6%) the index would still trade at 4400.
The last time the S&P was @ 4400 was 3 yrs ago in Sept of 2023. 🤯 https://t.co/AFvfVenTbR
H/T @market_sleuth
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The S&P 500 is 0.7% below a record high, yet 430 of those stocks are 21.7% below their highs. That means on average 86% of the stocks are in a bear market. Breadth has only been this bad twice, in January 1973 and in 1999/2000. On both occasions, the S&P then crashed nearly 50%
PeterSchiff ↗