Reported 1 day ago
Pictet Wealth Management cautions that a chaotic selloff in AI-related stocks could lead to a significant drop in the broader U.S. market, following an impressive rally in the S&P 500 driven by a few tech companies. Despite viewing U.S. equities favorably, they emphasize the vulnerability of current valuations and suggest that a normalization in stock performance may ensue, potentially impacting the Federal Reserve and the dollar. Meanwhile, they predict that the Bank of England will implement deeper interest rate cuts than currently expected, possibly boosting the British pound.
Source: YAHOO