"Don't Buy Into The Doomsday": Bernstein's Lists 3 Reasons Why Today's Market Panic Is Extremely Overblown

The Mag5s (NVDA + its top 4 customers, i.e. Microsoft, Google, Amazon, Meta) have contributed approximately 700 points to the S&P 500 over the last 2 years. In other words, the S&P 500 excluding the Mag-5s would be 12% lower today.