Financials Regain Heft In S&P 500
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Financial sector stocks have made a major comeback since March of 2009, and it shows in their S&P 500 sector weighting. In 2001, when the tech-stock bubble blew up, financials outstripped technology stocks in market cap for the first time in four years, and took the top sector weighting in the broad market index. They stayed in that top slot until the mortgage market meltdown of 2008 when so many big financial services firms teetered on the brink of collapse. By March of 2009, top weightings were occupied by technology and other sectors, such as healthcare, consumer staples and energy. But by June of this year, financials had rebounded to second place in the index, just behind technology.
