🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 191 (from laksa128)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa191.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical, ml_categories_json AS ml_categories_json, ml_types_json AS ml_types_json, ml_intent_types_json AS ml_intent_types_json, meta_language AS meta_language, attrs_author AS attrs_author, ifNull(toUnixTimestamp(attrs_publish_time), 0) AS attrs_publish_time, ifNull(toUnixTimestamp(attrs_original_publish_time), 0) AS attrs_original_publish_time, ifNull(attrs_is_republished, 0) AS attrs_is_republished, ifNull(attrs_nr_words, 0) AS attrs_nr_words, ifNull(attrs_boilerpipe_nr_words, 0) AS attrs_boilerpipe_nr_words, ifNull(body_ext_links_number, 0) AS body_ext_links_number, ifNull(body_int_links_number, 0) AS body_int_links_number, ifNull(meta_nofollow, 0) AS meta_nofollow, ifNull(meta_noarchive, 0) AS meta_noarchive, ifNull(props_was_rendered, 0) AS props_was_rendered, ifNull(src_redirect, \'\') AS src_redirect, ifNull(download_time_msec, 0) AS download_time_msec, ifNull(download_ttfb_msec, 0) AS download_ttfb_msec, ifNull(download_size, 0) AS download_size FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.ccn.com/biggest-sign-us-stock-market-bubble/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.ccn.com/biggest-sign-us-stock-market-bubble/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.ccn.com\/biggest-sign-us-stock-market-bubble\/","crawl_time":1776848915,"first_indexed_time":1598717438,"http_code":200,"src_unparsed":"com,ccn!www,\/biggest-sign-us-stock-market-bubble\/ s443","src_root_hash":"11183354550972681591","history_drop_reason":null,"meta_title":"Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble","meta_descriptions":["Here's the biggest sign we are in a bubble: U.S. tech companies now have a bigger market cap than the entire European stock market."],"attrs_boilerpipe_text":"U.S. tech stocks are now more valuable by market cap than the entire European market.\nFive mega-cap tech stocks have helped the S&P 500 outperform all of Europe.\nA significant market downturn could be in the cards as tech stocks are overvalued.\nThere are many signs that the U.S. stock market is in a bubble. Here’s the biggest one.\nAccording to Bank of America\n, U.S. tech stocks are now worth more by market cap than the entire European equities market.\nThis is the first time the U.S. tech sector’s market capitalization, at $9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at $8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks.\nFive Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally\nHow’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks.\nThe top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S&P 500 in January.\nThe shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth $2 trillion by itself. It’s the first U.S. company with a $2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane.\nApple stock has soared by 67% since the start of the year. | Chart:\nYahoo Finance\nAmazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to $2 trillion.\nAmazon stock has gained 80% year-to-date. | Chart:\nYahoo Finance\nThe massive tech stocks rally explains why the U.S. stock market has outperformed Europe.\nSince the beginning of 2010, the S&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%,\naccording to CNBC\n.\nThe S&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively.\nThe S&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. | Chart:\nYahoo Finance\nThe Tech Bubble Will Eventually Pop\nThe U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date.\nThe U.S. stock market recovery is an illusion\n. Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home.\nThe dominance of tech stocks is unhealthy for markets. Watch the video below.\nThe U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a\nsignificant market downturn when the bubble pops\n. It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit.\nDisclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft.\nStephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada.  Check out more of her experience on\nLinkedIn\n+ and follow her on\nTwitter\n. Reach her at stephanie.chateauneuf (at) gmail.com.","attrs_markdown":"![](https:\/\/www.facebook.com\/tr?id=1151308819994499&ev=PageView&noscript=1)\n\n[![Meet the Top 101 in Crypto](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/banner-ccn-top-101.webp) Meet the Top 101 in Crypto View Profiles](https:\/\/www.ccn.com\/top-101-in-crypto\/)\n\n[![Logo](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/ccn-logo-green.svg)](https:\/\/www.ccn.com\/)\n\nCrypto & Society\n\n- [![Crypto News](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-News.svg) Crypto News](https:\/\/www.ccn.com\/news\/crypto\/ \"Crypto News\")\n- [![Opinion](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Opinion.svg) Opinion](https:\/\/www.ccn.com\/opinion\/ \"Opinion\")\n\n\/\n\nCrypto & Personal Finance\n\n- [![Price Predictions](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Price-Predictions.svg) Price Predictions](https:\/\/www.ccn.com\/analysis-crypto-price-predictions\/ \"Price Predictions\")\n- [![Technical Analysis](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Technical-Analysis.svg) Technical Analysis](https:\/\/www.ccn.com\/analysis\/crypto\/ \"Technical Analysis\")\n- [![Crypto Investing](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-Investing.svg) Crypto Investing](https:\/\/www.ccn.com\/crypto-investing\/ \"Crypto Investing\")\n- [![Crypto Tools](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-Tools.svg) Crypto Tools](https:\/\/www.ccn.com\/crypto-tools\/ \"Crypto Tools\")\n\n\/\n\nCrypto & My Life\n\n- [![Education & Guides](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Education-and-Guides.svg) Education & Guides](https:\/\/www.ccn.com\/education\/ \"Education & Guides\")\n- [![Crypto Lifestyle Index](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-Lifestyle.svg) Crypto Lifestyle Index](https:\/\/www.ccn.com\/global-crypto-lifestyle-index\/ \"Crypto Lifestyle Index\")\n- [![Events](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Events.svg) Events](https:\/\/www.ccn.com\/crypto-events\/ \"Events\")\n\n\/\n\nCrypto & Culture\n\n- [![Crypto Casinos](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-Casinos-1.svg) Crypto Casinos](https:\/\/www.ccn.com\/crypto-casinos\/ \"Crypto Casinos\")\n- [![Crypto Gambling](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-Gambling.svg) Crypto Gambling](https:\/\/www.ccn.com\/crypto-gambling\/ \"Crypto Gambling\")\n- [![Crypto Sports Betting](https:\/\/www.ccn.com\/wp-content\/uploads\/2026\/02\/Crypto-sports-betting.svg) Crypto Sports Betting](https:\/\/www.ccn.com\/crypto-sports-betting\/ \"Crypto Sports Betting\")\n\n[Crypto Lifestyle Index](https:\/\/www.ccn.com\/global-crypto-lifestyle-index\/)\n\n![Open menu icon](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/menu-toggler.svg)\n\n[Home](https:\/\/www.ccn.com\/) \/ [Markets News & Opinions](https:\/\/www.ccn.com\/market-news\/) \/ Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble\n\n[Markets Opinion](https:\/\/www.ccn.com\/market-news\/markets-op-ed\/ \"Markets Opinion\")\n\n4 min read\n# Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble\nLast Updated 23 September 2020\n\n![Stephanie Bedard-Chateauneuf](https:\/\/www.ccn.com\/wp-content\/uploads\/2025\/07\/user_profile_pic_4548.jpg)\n\nAuthors\n\nBy [Stephanie Bedard-Chateauneuf](https:\/\/www.ccn.com\/author\/stephanie-bedard-chateauneuf\/ \"Stephanie Bedard-Chateauneuf\")\n\n![US stock market](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/US-bull-market-e1598640735187-1024x767.jpg)\n\nThe return of the bull market is owed to one sector: Information technology. You will be shocked to learn just how big Big Tech has become. \\| Image: AP Photo\/Mark Lennihan\n\nShare\n\n- U.S. tech stocks are now more valuable by market cap than the entire European market.\n- Five mega-cap tech stocks have helped the S\\&P 500 outperform all of Europe.\n- A significant market downturn could be in the cards as tech stocks are overvalued.\n\nThere are many signs that the U.S. stock market is in a bubble. Here’s the biggest one.\n\n[According to Bank of America](https:\/\/www.cnbc.com\/2020\/08\/28\/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html), U.S. tech stocks are now worth more by market cap than the entire European equities market.\n\nThis is the first time the U.S. tech sector’s market capitalization, at \\$9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at \\$8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks.\n\n## Five Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally\nHow’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks.\n\nThe top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S\\&P 500 in January.\n\nThe shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth \\$2 trillion by itself. It’s the first U.S. company with a \\$2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane.\n\n![Apple stock, AAPL](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/AAPL-Aug-28-1024x354.png)\n\nApple stock has soared by 67% since the start of the year. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/AAPL#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)\n\nAmazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to \\$2 trillion.\n\n![Amazon stock, AMZN](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/AMZN-Aug-28-1024x350.png)\n\nAmazon stock has gained 80% year-to-date. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/AMZN#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-)\n\nThe massive tech stocks rally explains why the U.S. stock market has outperformed Europe.\n\nSince the beginning of 2010, the S\\&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%, [according to CNBC](https:\/\/www.cnbc.com\/2020\/08\/28\/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html).\n\nThe S\\&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively.\n\n![S\\&P 500 vs Europe](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/stock-markets-comparison-1024x355.png)\n\nThe S\\&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/%5ESTOXX50E#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-)\n## The Tech Bubble Will Eventually Pop\nThe U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date. [The U.S. stock market recovery is an illusion](https:\/\/www.ccn.com\/sp-500-looks-awful-without-5-mega-cap-tech-stocks\/). Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home.\n\nThe dominance of tech stocks is unhealthy for markets. Watch the video below.\n\nThe U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a [significant market downturn when the bubble pops](https:\/\/www.ccn.com\/prepare-massive-stock-market-meltdown-explosive-gold-rally\/). It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit.\n***\nDisclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft.\n***\n[![Stephanie Bedard-Chateauneuf](https:\/\/www.ccn.com\/wp-content\/uploads\/2025\/07\/user_profile_pic_4548.jpg)](https:\/\/www.ccn.com\/author\/stephanie-bedard-chateauneuf\/ \"Stephanie Bedard-Chateauneuf\")\n\n[About the Author](https:\/\/www.ccn.com\/author\/stephanie-bedard-chateauneuf\/)\n\n[Stephanie Bedard-Chateauneuf](https:\/\/www.ccn.com\/author\/stephanie-bedard-chateauneuf\/ \"Stephanie Bedard-Chateauneuf\")\n\nStephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada. Check out more of her experience on [LinkedIn](https:\/\/www.linkedin.com\/in\/stephaniechateauneuf\/) + and follow her on [Twitter](https:\/\/twitter.com\/SBChateauneuf). 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XP adds directly to your account.\n\n![Wheel graphic](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/wheel.svg)\n\n![Wheel indicator](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/selector-wheel.svg)\n\nGot it\\!\n\nCollect my reward\\!\n\nYou have spun already ⏳\n\nCome back to spin the wheel tomorrow\n\nGot it\\!\n\n![Close modal](https:\/\/www.ccn.com\/wp-content\/themes\/ccn-child\/assets\/img\/close-dark.svg)\n\nLog In\n\nDon't have an account? [Register](https:\/\/www.ccn.com\/biggest-sign-us-stock-market-bubble\/)\n\nBy using CCN.com you consent to our  [privacy & cookie policy](https:\/\/www.ccn.com\/privacy-policy\/)\n\n[Continue](https:\/\/www.ccn.com\/biggest-sign-us-stock-market-bubble\/)","attrs_readable_markdown":"- U.S. tech stocks are now more valuable by market cap than the entire European market.\n- Five mega-cap tech stocks have helped the S\\&P 500 outperform all of Europe.\n- A significant market downturn could be in the cards as tech stocks are overvalued.\n\nThere are many signs that the U.S. stock market is in a bubble. Here’s the biggest one.\n\n[According to Bank of America](https:\/\/www.cnbc.com\/2020\/08\/28\/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html), U.S. tech stocks are now worth more by market cap than the entire European equities market.\n\nThis is the first time the U.S. tech sector’s market capitalization, at \\$9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at \\$8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks.\n\n## Five Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally\nHow’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks.\n\nThe top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S\\&P 500 in January.\n\nThe shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth \\$2 trillion by itself. It’s the first U.S. company with a \\$2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane.\n\n![Apple stock, AAPL](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/AAPL-Aug-28-1024x354.png)\n\nApple stock has soared by 67% since the start of the year. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/AAPL#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)\n\nAmazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to \\$2 trillion.\n\n![Amazon stock, AMZN](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/AMZN-Aug-28-1024x350.png)\n\nAmazon stock has gained 80% year-to-date. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/AMZN#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-)\n\nThe massive tech stocks rally explains why the U.S. stock market has outperformed Europe.\n\nSince the beginning of 2010, the S\\&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%, [according to CNBC](https:\/\/www.cnbc.com\/2020\/08\/28\/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html).\n\nThe S\\&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively.\n\n![S\\&P 500 vs Europe](https:\/\/www.ccn.com\/wp-content\/uploads\/2020\/08\/stock-markets-comparison-1024x355.png)\n\nThe S\\&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. \\| Chart: [Yahoo Finance](https:\/\/finance.yahoo.com\/chart\/%5ESTOXX50E#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-)\n## The Tech Bubble Will Eventually Pop\nThe U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date. [The U.S. stock market recovery is an illusion](https:\/\/www.ccn.com\/sp-500-looks-awful-without-5-mega-cap-tech-stocks\/). Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home.\n\nThe dominance of tech stocks is unhealthy for markets. Watch the video below.\n\nThe U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a [significant market downturn when the bubble pops](https:\/\/www.ccn.com\/prepare-massive-stock-market-meltdown-explosive-gold-rally\/). It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit.\n***\nDisclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft.\n***\n[![Stephanie Bedard-Chateauneuf](https:\/\/www.ccn.com\/wp-content\/uploads\/2025\/07\/user_profile_pic_4548.jpg)](https:\/\/www.ccn.com\/author\/stephanie-bedard-chateauneuf\/ \"Stephanie Bedard-Chateauneuf\")\n\nStephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada. Check out more of her experience on [LinkedIn](https:\/\/www.linkedin.com\/in\/stephaniechateauneuf\/) + and follow her on [Twitter](https:\/\/twitter.com\/SBChateauneuf). Reach her at stephanie.chateauneuf (at) gmail.com.","meta_canonical":null,"ml_categories_json":"{\"\/Finance\":996,\"\/Finance\/Investing\":992,\"\/Finance\/Investing\/Stocks_and_Bonds\":987}","ml_types_json":"{\"\/Article\":999,\"\/Article\/News_Update\":621}","ml_intent_types_json":"{\"Informational\":997}","meta_language":"en-us","attrs_author":"Stephanie Bedard-Chateauneuf","attrs_publish_time":1598706008,"attrs_original_publish_time":1598706008,"attrs_is_republished":0,"attrs_nr_words":"1170","attrs_boilerpipe_nr_words":"636","body_ext_links_number":22,"body_int_links_number":70,"meta_nofollow":0,"meta_noarchive":0,"props_was_rendered":0,"src_redirect":"","download_time_msec":99,"download_ttfb_msec":98,"download_size":31693}

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Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble

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Here's the biggest sign we are in a bubble: U.S. tech companies now have a bigger market cap than the entire European stock market.

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U.S. tech stocks are now more valuable by market cap than the entire European market. Five mega-cap tech stocks have helped the S&P 500 outperform all of Europe. A significant market downturn could be in the cards as tech stocks are overvalued. There are many signs that the U.S. stock market is in a bubble. Here’s the biggest one. According to Bank of America , U.S. tech stocks are now worth more by market cap than the entire European equities market. This is the first time the U.S. tech sector’s market capitalization, at $9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at $8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks. Five Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally How’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks. The top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S&P 500 in January. The shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth $2 trillion by itself. It’s the first U.S. company with a $2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane. Apple stock has soared by 67% since the start of the year. | Chart: Yahoo Finance Amazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to $2 trillion. Amazon stock has gained 80% year-to-date. | Chart: Yahoo Finance The massive tech stocks rally explains why the U.S. stock market has outperformed Europe. Since the beginning of 2010, the S&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%, according to CNBC . The S&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively. The S&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. | Chart: Yahoo Finance The Tech Bubble Will Eventually Pop The U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date. The U.S. stock market recovery is an illusion . Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home. The dominance of tech stocks is unhealthy for markets. Watch the video below. The U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a significant market downturn when the bubble pops . It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit. Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft. Stephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada. Check out more of her experience on LinkedIn + and follow her on Twitter . Reach her at stephanie.chateauneuf (at) gmail.com.

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![](https://www.facebook.com/tr?id=1151308819994499&ev=PageView&noscript=1) [![Meet the Top 101 in Crypto](https://www.ccn.com/wp-content/themes/ccn-child/assets/img/banner-ccn-top-101.webp) Meet the Top 101 in Crypto View Profiles](https://www.ccn.com/top-101-in-crypto/) [![Logo](https://www.ccn.com/wp-content/themes/ccn-child/assets/img/ccn-logo-green.svg)](https://www.ccn.com/) Crypto & Society - [![Crypto News](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-News.svg) Crypto News](https://www.ccn.com/news/crypto/ "Crypto News") - [![Opinion](https://www.ccn.com/wp-content/uploads/2026/02/Opinion.svg) Opinion](https://www.ccn.com/opinion/ "Opinion") / Crypto & Personal Finance - [![Price Predictions](https://www.ccn.com/wp-content/uploads/2026/02/Price-Predictions.svg) Price Predictions](https://www.ccn.com/analysis-crypto-price-predictions/ "Price Predictions") - [![Technical Analysis](https://www.ccn.com/wp-content/uploads/2026/02/Technical-Analysis.svg) Technical Analysis](https://www.ccn.com/analysis/crypto/ "Technical Analysis") - [![Crypto Investing](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-Investing.svg) Crypto Investing](https://www.ccn.com/crypto-investing/ "Crypto Investing") - [![Crypto Tools](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-Tools.svg) Crypto Tools](https://www.ccn.com/crypto-tools/ "Crypto Tools") / Crypto & My Life - [![Education & Guides](https://www.ccn.com/wp-content/uploads/2026/02/Education-and-Guides.svg) Education & Guides](https://www.ccn.com/education/ "Education & Guides") - [![Crypto Lifestyle Index](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-Lifestyle.svg) Crypto Lifestyle Index](https://www.ccn.com/global-crypto-lifestyle-index/ "Crypto Lifestyle Index") - [![Events](https://www.ccn.com/wp-content/uploads/2026/02/Events.svg) Events](https://www.ccn.com/crypto-events/ "Events") / Crypto & Culture - [![Crypto Casinos](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-Casinos-1.svg) Crypto Casinos](https://www.ccn.com/crypto-casinos/ "Crypto Casinos") - [![Crypto Gambling](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-Gambling.svg) Crypto Gambling](https://www.ccn.com/crypto-gambling/ "Crypto Gambling") - [![Crypto Sports Betting](https://www.ccn.com/wp-content/uploads/2026/02/Crypto-sports-betting.svg) Crypto Sports Betting](https://www.ccn.com/crypto-sports-betting/ "Crypto Sports Betting") [Crypto Lifestyle Index](https://www.ccn.com/global-crypto-lifestyle-index/) ![Open menu icon](https://www.ccn.com/wp-content/themes/ccn-child/assets/img/menu-toggler.svg) [Home](https://www.ccn.com/) / [Markets News & Opinions](https://www.ccn.com/market-news/) / Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble [Markets Opinion](https://www.ccn.com/market-news/markets-op-ed/ "Markets Opinion") 4 min read # Here’s the Biggest Sign the U.S. Stock Market Is in a Bubble Last Updated 23 September 2020 ![Stephanie Bedard-Chateauneuf](https://www.ccn.com/wp-content/uploads/2025/07/user_profile_pic_4548.jpg) Authors By [Stephanie Bedard-Chateauneuf](https://www.ccn.com/author/stephanie-bedard-chateauneuf/ "Stephanie Bedard-Chateauneuf") ![US stock market](https://www.ccn.com/wp-content/uploads/2020/08/US-bull-market-e1598640735187-1024x767.jpg) The return of the bull market is owed to one sector: Information technology. You will be shocked to learn just how big Big Tech has become. \| Image: AP Photo/Mark Lennihan Share - U.S. tech stocks are now more valuable by market cap than the entire European market. - Five mega-cap tech stocks have helped the S\&P 500 outperform all of Europe. - A significant market downturn could be in the cards as tech stocks are overvalued. There are many signs that the U.S. stock market is in a bubble. Here’s the biggest one. [According to Bank of America](https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html), U.S. tech stocks are now worth more by market cap than the entire European equities market. This is the first time the U.S. tech sector’s market capitalization, at \$9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at \$8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks. ## Five Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally How’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks. The top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S\&P 500 in January. The shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth \$2 trillion by itself. It’s the first U.S. company with a \$2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane. ![Apple stock, AAPL](https://www.ccn.com/wp-content/uploads/2020/08/AAPL-Aug-28-1024x354.png) Apple stock has soared by 67% since the start of the year. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/AAPL#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) Amazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to \$2 trillion. ![Amazon stock, AMZN](https://www.ccn.com/wp-content/uploads/2020/08/AMZN-Aug-28-1024x350.png) Amazon stock has gained 80% year-to-date. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/AMZN#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-) The massive tech stocks rally explains why the U.S. stock market has outperformed Europe. Since the beginning of 2010, the S\&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%, [according to CNBC](https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html). The S\&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively. ![S\&P 500 vs Europe](https://www.ccn.com/wp-content/uploads/2020/08/stock-markets-comparison-1024x355.png) The S\&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/%5ESTOXX50E#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-) ## The Tech Bubble Will Eventually Pop The U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date. [The U.S. stock market recovery is an illusion](https://www.ccn.com/sp-500-looks-awful-without-5-mega-cap-tech-stocks/). Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home. The dominance of tech stocks is unhealthy for markets. Watch the video below. The U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a [significant market downturn when the bubble pops](https://www.ccn.com/prepare-massive-stock-market-meltdown-explosive-gold-rally/). It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit. *** Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft. *** [![Stephanie Bedard-Chateauneuf](https://www.ccn.com/wp-content/uploads/2025/07/user_profile_pic_4548.jpg)](https://www.ccn.com/author/stephanie-bedard-chateauneuf/ "Stephanie Bedard-Chateauneuf") [About the Author](https://www.ccn.com/author/stephanie-bedard-chateauneuf/) [Stephanie Bedard-Chateauneuf](https://www.ccn.com/author/stephanie-bedard-chateauneuf/ "Stephanie Bedard-Chateauneuf") Stephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada. Check out more of her experience on [LinkedIn](https://www.linkedin.com/in/stephaniechateauneuf/) + and follow her on [Twitter](https://twitter.com/SBChateauneuf). Reach her at stephanie.chateauneuf (at) gmail.com. 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Readable Markdown

- U.S. tech stocks are now more valuable by market cap than the entire European market. - Five mega-cap tech stocks have helped the S\&P 500 outperform all of Europe. - A significant market downturn could be in the cards as tech stocks are overvalued. There are many signs that the U.S. stock market is in a bubble. Here’s the biggest one. [According to Bank of America](https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html), U.S. tech stocks are now worth more by market cap than the entire European equities market. This is the first time the U.S. tech sector’s market capitalization, at \$9.1 trillion, overtakes Europe, which, including the U.K. and Switzerland, which now stands at \$8.9 trillion. For reference, the bank said that in 2007, Europe was four times larger than U.S. tech stocks. ## Five Mega-Cap Stocks Are Fueling the U.S. Stock Market Rally How’s that possible? The U.S. stock market has become increasingly concentrated in mega-cap stocks. The top five largest tech stocks (called the FAAMG stocks)–Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google-owned Alphabet (NASDAQ:GOOGL)–made up 17.5% of the S\&P 500 in January. The shift towards tech stocks during the pandemic has pushed that number well above 20%. Tech giant Apple is worth \$2 trillion by itself. It’s the first U.S. company with a \$2 trillion market cap. Apple is worth almost a quarter of the European stock market. That’s insane. ![Apple stock, AAPL](https://www.ccn.com/wp-content/uploads/2020/08/AAPL-Aug-28-1024x354.png) Apple stock has soared by 67% since the start of the year. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/AAPL#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) Amazon’s rally is probably the most impressive of the bunch. The company has been a dominant force in e-commerce since the 1990s. The explosion of the cloud computing industry has contributed to its stock skyrocketing over the past decade. Its share price is about 25 times higher than it was ten years ago. Its market cap is getting closer to \$2 trillion. ![Amazon stock, AMZN](https://www.ccn.com/wp-content/uploads/2020/08/AMZN-Aug-28-1024x350.png) Amazon stock has gained 80% year-to-date. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/AMZN#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-) The massive tech stocks rally explains why the U.S. stock market has outperformed Europe. Since the beginning of 2010, the S\&P 500 has gained nearly 200%. The Euro Stoxx 50 has risen by 13.4%, while the UK’s FTSE 100 has gained just under 11%, [according to CNBC](https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html). The S\&P 500 is up more than 8% year-to-date, while the Euro Stoxx 50 and the FTSE 100 are down 12% and 21%, respectively. ![S\&P 500 vs Europe](https://www.ccn.com/wp-content/uploads/2020/08/stock-markets-comparison-1024x355.png) The S\&P 500 has rebounded much faster than the Euro Stoxx 50 and the FTSE 100. \| Chart: [Yahoo Finance](https://finance.yahoo.com/chart/%5ESTOXX50E#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-) ## The Tech Bubble Will Eventually Pop The U.S. equities market is positive for the year because of FAAMG stocks, which have soared more than 35% year-to-date. [The U.S. stock market recovery is an illusion](https://www.ccn.com/sp-500-looks-awful-without-5-mega-cap-tech-stocks/). Tech stocks are trading at very high valuations. Their growth could taper in the coming months as the economy recovers and fewer people work at home. The dominance of tech stocks is unhealthy for markets. Watch the video below. The U.S. stock market is too concentrated in tech stocks, and that’s risky. The FAAMG plays are forming a mega-bubble, which will cause a [significant market downturn when the bubble pops](https://www.ccn.com/prepare-massive-stock-market-meltdown-explosive-gold-rally/). It isn’t normal that only five stocks exceed Europe’s market cap. The Dow will be hit too when the tech bubble pops, as it’s becoming more concentrated in tech stocks. Tech-heaving Nasdaq will, of course, be the more hit. *** Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer owns shares of Microsoft. *** [![Stephanie Bedard-Chateauneuf](https://www.ccn.com/wp-content/uploads/2025/07/user_profile_pic_4548.jpg)](https://www.ccn.com/author/stephanie-bedard-chateauneuf/ "Stephanie Bedard-Chateauneuf") Stephanie has been writing about stocks and financial markets for several years. Based in Canada, she has written for The Motley Fool and Seeking Alpha. She received an MBA in finance and worked for the National Bank of Canada. Check out more of her experience on [LinkedIn](https://www.linkedin.com/in/stephaniechateauneuf/) + and follow her on [Twitter](https://twitter.com/SBChateauneuf). Reach her at stephanie.chateauneuf (at) gmail.com.

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en-us

Author

Stephanie Bedard-Chateauneuf

Publish Time

2020-08-29 13:00:08 (5 years ago)

Original Publish Time

2020-08-29 13:00:08 (5 years ago)

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