Apple, Nvidia and other megacap stocks drag S&P 500 lower as AI spending fears weigh on markets
India, Oct. 26 -- Apple and Nvidia are among the biggest stocks weighing on the S&P 500. Apple and Nvidia may be competing again to become the world's most valuable company, but the recent weakness in the biggest US stocks is holding back the broader stock market.
The 10 biggest stocks in the S&P 500 are struggling to keep up with the rest of the market. RBC strategist Lori Calvasina pointed out in a new note that these companies have started to underperform the other stocks in the benchmark index again. Their weak performance is putting pressure on the overall market because they account for a large share of the S&P 500.
The 10 biggest stocks include major technology and AI companies. These are Apple, Nvidia, Amazon, Broadcom, Alphabet...
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