The biggest stocks in the market will soon get taken down a peg or two, at least on paper.
The seven largest stocks in the Nasdaq-100 will be diluted down to 44% of the index from the current 56%.
The changes mean the Invesco QQQ Trust and other funds that closely follow the index will need to sell some of the biggest stocks in the market this week.
"Nasdaq slashed the NDX weight of AAPL from 20% to 12%, but this change had no clear negative effect on the stock's performance.
The rebalance comes as the increased concentration of large-cap tech stocks has raised concerns the current market rally is unsustainable.
Persons:
Goldman Sachs, David Kostin, Kostin, Lori Calvasina, Bram Kaplan, CNBC's Michael Bloom
Organizations:
Nasdaq, Nvidia, Microsoft, Apple, Broadcom, RBC Capital Markets, JPMorgan