27
Tech rotation and AI concerns drive market divergence
United States (US) equity markets closed lower on Friday, with tech stocks leading the retreat as traders took profits after Thursday’s rebound and reassessed the broader artificial intelligence (AI) trade. For the week, the Dow Jones gained 311 points (+0.60%), while the S&P 500 fell 1.95% and the Nasdaq 100 dropped 4.24%, weighed down by the out-of-favour Magnificent Seven.
This rotation out of big tech has become one of the defining themes as we head toward the end of the first…
