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The S&P's market cap markdown

Data: GlobalData; Chart: Harry Stevens/Axios

The S&P 500 lost $1.5 trillion in collective market cap since the beginning of last year, according to recent analysis by research firm GlobalData.

By the numbers: 8 out of the S&P's 11 sectors lost market cap value, with companies like Exxon Mobil, Wells Fargo and Walmart seeing their market cap shrink by more than $40 billion. The utilities sector was the only sector to see double-digit market cap growth, with companies like NextEra and Duke Energy gaining $5 billion in value.

  • Interestingly, tech still dominates the S&P by a wide margin, despite losing $90 billion in market cap.
  • The tech sector is 12 times bigger than the smallest S&P sector (which also includes some tech names), Communication Services.

Go deeper: Big Tech's hold on the market might not last