Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark's"overconcentration."
Wall Street's most valuable stocks declined after Nasdaq said late on Friday it would carry out a"Special Rebalance" of the index to"address overconcentration in the index by redistributing the weights." The Nasdaq 100 includes 100 of the largest companies that trade on the Nasdaq exchange, and changes to the index will force investment funds that track it to adjust their portfolios and sell shares of companies that have their weight in the index reduced.
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