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S&P 500 Momentum Index Faces Steepest Selloff Since Early 2000s in Past 3 Weeks

GateNews
IndicesStocks
According to Goldman Sachs, the S&P 500 Momentum Index experienced its steepest selloff since the early 2000s over the past three weeks, underperforming the broader S&P 500 by nearly 8 percentage points. However, experts characterize the sell-off as a market rotation rather than a crash, with capital shifting from overvalued semiconductor stocks to financial and large-cap technology stocks. Franklin Templeton's chief market strategist Chris Galipeau noted that despite the cooling momentum trade, the overall U.S. stock market remained strong, with the S&P 500 hovering near its record high and corporate earnings broadly robust.
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