Small number of firms drive S&P 500

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What made the news on 18 October 1999

Just 11 stocks drove the performance of the S&P 500 index in the first nine months of 1999, leaving the remainder in a bearish state. According to research by Morgan Stanley Dean Witter four stocks accounted for more than half of the performance of the index, while 11 accounted for 100%. Those 11, in order of contribution, were Microsoft, Cisco, General Electric, IBM, Intel, Sun Microsystems, Citigroup, Nortel Networks, Wal-Mart, Texas Instruments and EMC.

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