Investors look to diversify amid tech rally

Big gains: The Microsoft office in New York. The tech giant along with Apple and Amazon are Wall Street’s three most valuable companies. — AP

NEW YORK: Rising valuations and hefty year-to-date gains for big technology stocks are pushing some investors to diversify away from the sector that has led markets for years.

Tech stocks have soared this year, and their big weighting in the S&P 500 has helped push the index to records with a 25.1% year-to-date gain in 2021.