Why the stock market has struggled without Big Tech’s leadership

Why the stock market has struggled without Big Tech’s leadershipInvestors have been forced to confront a disappointing reality in 2026: A handful of Big Tech companies have the power to vex investors who are bullish on the S&P 500, even though a sizable portion of the index’s members have seen their shares climb, or at least outperform.For much of the past three years, stock-market bulls have been talking about a more broad-based rally as something that could help to keep pushing major indexes like the S&P 500 higher.About the AuthorChristine Idzelis is a markets reporter at MarketWatch and is based in New York.A Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.