BofA warns a lasting AI sell-off is one of the biggest risks to the economy
FROM THE WIRE · FINANCE.YAHOO.COM
Wall Street hedge funds have already backed away from AI. BofA's economists warn the rest of the economy may not be able to. In a report Monday, BofA Global Research economists called a sustained correction in the AI trade "one of the larger risks to the US and global economy."…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA sustained AI stock correction could slow growth through spending and the wealth effect.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01BofA economists call a sustained AI trade correction one of the larger risks to the US and global economy.
- 02AI stocks lost about $5 trillion in market value over a three-week stretch.
- 03The Nasdaq 100 ended Friday about 9% below its Oct. 6 record.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Alphabet Inc.283.48 USD-0.05%today +1.30%Negative Oracle Corporation122.94 USD-0.32%today -5.91%Negative NASDAQ 10028,514.91-0.03%today +0.46%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets