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The Dominance of Tech Stocks in S&P 500 Is Set to Shrink Next Year

  • S&P Dow Jones and MSCI announce changes in Thrusday statement
  • Visa, PayPal and others may be reclassified, Rosenbluth says
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The dominance of tech stocks in the S&P 500 is set to shrink next year after the index’s overseer announced revisions that will reclassify the sectors of some major shares. 

Payment processing companies currently classified as technology firms are poised to join the financial sector, while other tech names providing outsourcing or human resources support will be classified as industrial stocks, S&P Dow Jones Indices and MSCI Inc. said in a joint statement on Thursday.