Nearly half of S&P 500 stocks move against the index with negative beta

Goldman Sachs reports that 45% of S&P 500 stocks carry a negative three-month beta, moving inversely to the index due to mega-cap tech concentration. Highlighting an extreme market divergence, the S&P 500 recently gained 1.5% while 52-week lows outnumbered highs—a pattern last observed in December 1999 prior to the dot-com peak, according to SentimenTrader.