Mega-cap stocks relative strength as investors rotate capital into stocks that are seen as being removed from the fallout in the banking industry.
To that end, a lot of start-up companies are seen as being in the crosshairs of the Silicon Valley Bank failure, which is partly why mega-cap companies with solid balance sheets, like Apple (AAPL 152.39, +3.49, +2.6%) and Microsoft (MSFT 255.30, +6.72, +2.7%), are being favored today.