Goldman sees risks for investors as the biggest stocks take over the market

Amazon CEO Jeff Bezos
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Dominance in technology darlings Apple, Microsoft, Amazon, Google-parent Alphabet and Facebook has led stocks out of the depths of the coronavirus market rout, but Goldman Sachs is raising a flag about the risks of reliance on such a low number of leaders. 

The Wall Street firm warned clients about the risks to the overall market from such elevated market concentration in the so-called FAAMG (Facebook, Amazon, Apple, Microsoft and Google) stocks.

"Narrow market breadth has often preceded large drawdowns in the past," David Kostin, Goldman's chief U.S. equity strategist, told clients.