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Jesse Cohen, senior markets analyst at Investing.com, highlights that futures are pointing to sizable losses for technology stocks, especially in companies focused on artificial intelligence.
According to Cohen, investor sentiment has shifted after AI industry leaders indicated a need to slow development, leading Wall Street to reconsider the momentum behind AI trades.
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Cohen previously noted that a $10,000 investment in Nike stock five years ago would now be worth about $2,500, marking a significant decline for the company. He has also reported on a four-day downturn in stocks as VIX surged and Treasury yields hit 20-year highs earlier this year. These developments add further context to Cohen’s observations on shifting investor sentiment in the current market.