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Wall Street Loses Ground as the Market Booms

Health-care and tech companies eclipse finance in the five-year rally

Wall Street banks have failed to keep up with the stock market during its more than five-year boom, falling behind industries such as technology and health care. There were just 32 U.S. financial firms among the world’s largest 500 companies by market value when trading closed on Dec. 18 in New York. That compares with 41 at the end of 2006, the last full year before the credit crisis. Some companies that remain on the list, such as Citigroup and American International Group, have shrunk to a fraction of the size of tech giants like Apple and Google.

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