Nvidia Gets Weird

On several occasions this year, I suggested we may be approaching a kind of market singularity wherein the US mega-caps regularly swing between quarter trillion-dollar single-session gains and losses, rendering the rest of the market irrelevant. "The larger the mega-caps get, the more pronounced [the moves] are becoming, not necessarily in percentage terms, but in market-cap terms," I wrote three months ago, in the course of noting that if it gets to the point where the mega-caps routinely add