The Great Rotation: How Capital is Pumping Defensive Sectors While Dumping Tech Stocks

TLDR: Large-cap tech stocks have dumped back to September 2025 levels despite new highs in defensive sectors. Energy, utilities, and consumer staples pump to record levels as massive capital rotates from technology. Market concentration in tech means non-tech rallies cannot lift the S&P 500 without leadership change. Emerging markets see the highest inflows in a [...]

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