For the first time in history, the Magnificent 7 stocks have surpassed a combined value of $20 trillion. This milestone means that these seven stocks now account for approximately 35% of the S&P 500 index. The concentration of value in these stocks is unprecedented, exceeding levels seen during the Dot-Com bubble in 2000. The rise of technology companies has significantly influenced this market trend.
In related developments, car repossessions have reached 1.73 million in 2024, marking a 16% increase year-over-year. This situation reflects broader economic challenges as asset prices continue to rise sharply, prompting the Federal Reserve to cut rates into stagflation.
The significant valuation of the Magnificent 7 stocks highlights the ongoing dominance of the tech sector in the financial markets.
![[Video] Scott Bessent: U.S. economy partially in recession, wealth gains uneven](/_next/image?url=%2Fapi%2Fimage%2Fthumbnails%2Fthumbnail-1762111854717-0q6nah-thumbnail.jpg&w=3840&q=75)
