S&P 500's Record Close Echoes Dotcom Bubble with Limited Broad Participation
The S&P 500 closed at a record high in May, but only 20 stocks reached new highs, mostly AI-related. This pattern mirrors the dotcom bubble peak of March 2000 when just 20 stocks hit all-time highs. Bank of America's Michael Hartnett warns that this narrow market rally could signal an approaching top.
Topics: AI stocks central banks dotcom bubble parallels interest rates S&P 500