September Tech Correction Turns World Upside Down

The US equity market took a rare turn for the egalitarian in September. A summer rally in mega-cap tech which led to the highest levels of concentration for the top-five stocks in recent memory finally buckled under its own weight earlier this month, setting the stage for a fairly dramatic reversal of fortune. On the heels of tech's abrupt correction, the cap-weighted S&P is on track to underperform its equal-weighted counterpart by the most since 2009. More notable still is the Nasdaq