Investors are spotlighting the heavy concentration of tech and AI‑exposed stocks in the U.S. market, noting that a confirmed pull‑back in that segment could ripple across broader indices. The tech sector weight in the S&P 500 has risen to around 36 % from under 33 % at the start of the year. With the forward P/E for tech near 32× versus a longer‑term average of ~22×, strategists say this part of the market is due for a correction. While the current move may serve as a reset, sustained weakness could raise concerns about the broader rally’s durability.