Bloomberg Intelligence's 'Equity Market Minute' 9/23/2022

Gina Martin Adams discusses the significant derating of the US equity market due to rising interest rates, focusing on long duration equities and mega cap equities. Long duration stocks, with future-concentrated cash flows, have seen a PE ratio decline from 37 to 25 times forward earnings. Mega cap equities, comprising 23% of the S&P 500, are also vulnerable due to their high duration, potentially leading to further market corrections.

What percentage of the market cap of the S&P 500 do mega cap equities command?

What does the text suggest about the vulnerability of the premium paid for mega cap stocks?