Analysts are concerned that large-cap US stocks have established unprecedented stock market dominance in the first days of the year, with the top five publicly quoted US names now holding 18% of S&P 500 capitalization. "If there is really a recession, the small-caps will get hurt because of credit risk plus the equity beta," said Societe Generale strategist Sophie Huynh.
Large-cap equities' dominance in market raises concerns
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