APPLOVIN CORP CLASS A and SKYDANCE CORP moved almost identically (−11.91% vs −11.30%), yet APP moved the XLC 5.1× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.
Attribution map
slicing the −1.14 pt move · cell size = points contributed · color = direction, intensity = return
META+2.5 pts(+11.6%)
VZ−0.9 pts(−16.6%)
CMCSA−0.8 pts(−16.6%)
GOOGL+0.8 pts(+5.7%)
TMUS−0.8 pts(−16.1%)
APP−0.7 pts(−11.9%)
T−0.6 pts(−13.2%)
CHTR−0.6 pts(−26.5%)
GOOG+0.6 pts(+5.3%)
NFLX−0.2 pts
DIS+0.2 pts
SKYD
FOXA−0.1 pts
OMC
ECHO
RDDT+0.1 pts
TKO−0.1 pts
TTWO
NWSA
Concentration curve
cumulative share of the −1.14 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−30%−20%−10%0%+10%
From −26.45% (CHTR) to +11.61% (META). Equal-weight, the XLC would be −5.07% vs the actual −1.02%; the gap is what cap weighting did.
By sector
point contribution · sums to −1.14 pts
-22
−1.1
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
Share this move
pick a view, download it as a 16:9 PNG
Communication Services · Select Sector
What moved the market
1M · OCT 9, 2026
−1.02%
−1.1 pts · closed 110.36
7 of 22 rose · 15 fell
META+11.6%
+2.5
GOOGL+5.7%
+0.8
GOOG+5.3%
+0.6
DIS+2.1%
+0.2
ECHO+3.3%
+0.1
T−13.2%
−0.6
APP−11.9%
−0.7
TMUS−16.1%
−0.8
CMCSA−16.6%
−0.8
VZ−16.6%
−0.9
3 stocks drove 100%+ of the decline: VZ, CMCSA, TMUSWMTMT.COM
view 1 of 6
Cycle through the views and download any of them as a 16:9 PNG sized for X. Pasting the page link on X unfurls a server-rendered card on its own.
www.wmtmt.com/xlc?p=1m
Share on X copies the image to your clipboard and opens the composer; paste to attach it.
What moved the market, in your inbox
The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.
Babylon Burns
WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.