The combined market capitalization of the Consumer Discretionary and Consumer Staples sectors has fallen to approximately 13% of the total S&P 500. This figure represents the lowest proportional share for these consumer-facing industries since at least the 1990s.
The sector's influence continues to wane, recently recording an additional 5% decline in its relative market weight. This shift is driven by the continued outperformance of technology and energy stocks, which have surged to dominate the broader index as consumer-related equities become increasingly marginalized.