Market move● Neutral for Indian equities
Global pension funds cut US equities over AI concentration risk
The brief
- Global pension funds are cutting US equities over concerns about AI concentration and stretched valuations
- Stocks upbeat, dollar wobbles as Fed hike bets recede
- Rising US Treasury yields put pressure on Wall Street’s AI rally
- Nasdaq hits record as weak US jobs data cools rate-hike bets
- US Stock Market Today: Nasdaq Jumps 1%, Dow Up 300 Points As Yields Retreat After Weak Jobs Data
- Rising bond yields, US midterms and earnings challenge stocks’ usual fourth-quarter strength