84% of S&P 500 stocks trading at least 10% below all-time highs; market breadth deteriorating despite index near record levels.
Macro & Markets ·
Eighty-four percent of S&P 500 stocks are trading at least 10% below their all-time highs, with Real Estate showing the steepest declines at 97% and Energy relatively resilient at 62%, while the S&P 500 index itself sits just 0.2% from its record high set on Tuesday. Fifty-nine percent of index constituents are down at least 20% from their peaks, and 17% have fallen more than 50%. This divergence suggests a narrow group of stocks is driving the index near its record level as broader market breadth deteriorates across most sectors.