Wall Street’s souring view on the US stock market isn’t just about the economy — it’s about AI too

This year Stock market sale It was dramatic, but it also contains almost all the same characters that are presented The largest market failures We have seen in the last two years.

As above and now, To the roadA number

Monday-Untiviva Market Route, Shares of NVIDIA (Nvda), Tesla (Stake), Alphabet (GardenTo be in style Gogl), Amazon (:Amzn), Meta (Meta), Apple (Aapl), and Microsoft (Hook) Everyone has fallen, during which video falls by 15% to cause losses.

It marked the last sign that the so-called “majestic seven” technology shares that drove S & P 500 Return 20% to 20% over the past two years Now they have become “LAG SEESH”, according to T. Rowe Price Science and Technology Portfolio Manager Tony Wang.

These days stocks rise or descend, it seems that everything is the big trade of AI.

And right now it doesn’t show market in which investors want to bet on the future AI growth, in particular the history of the total salary of the S & P 500.^ GSPC) enters into question.

“The key column of this bull market has given the key column of this bull market in the past month,” Truist Co-Chair Kate Lerner wrote for customers on March 4.

Has great technology through this bull market run served as the main earnings driver, Help support the total profit of the S & P 500, while non-technological companies are fighting. From time to time, it helped to play the sphere as Trade to safety to security in the conditions of market uncertainty.

But now, as Wang notes, not only the costs of these companies facing some investors’ skepticism, but also “[earnings] Results become more durable. “

“And if we look forward, they are not likely to be going to speed up,” Wang added.

Macro Von, with Concerns about Trump Tariff Policy, which push both interest rates and the dollarIt is also a challenge for these shares.

“The deferred influence of the highest pace and a stronger dollar, as well as the discussions on AI CAPEX, gathered to review the pressure earnings,” Morgan Wilson, Morgan Stanley’s Chief Introduction, wrote on Sunday.

“As a result, we saw a very unchanging index performance with S & P 500.”

The areas that are hosting all magnificent yimes technology reserves: Information Technology (Xlk) Consumer discretionary (:Crud), and communication services (Xlc) Monday were the worst spheres.