S&P 500 BREADTH FALLS TO DOT-COM ERA LOW
Goldman Sachs says AI stocks are masking extreme weakness beneath the S&P 500, with market breadth falling to its lowest level since the dot-com bubble.
The median S&P 500 stock now trades 16% below its 52-week high, while investor positioning has fallen sharply.
Goldman sees potential for lagging stocks to catch up if macro uncertainty eases.