Swiss Analyst Warns AI Narrative as Pillar of US Stocks May Trigger Correction

Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that broad market indices and pension funds are deeply tied to the AI wave, with technology stocks accounting for about 40% of the S&P 500 index. The market capitalization weight of three chip manufacturers occupies over 25% of the MSCI Emerging Markets Index. She pointed out that AI has become a core pillar of the market, and there should be no cracks. In the short term, the US stock market will be supported by seasonal factors, and the current upward trend may continue until the end of the year. However, she warned that if the logic of AI investment wavers and market confidence in the AI narrative is damaged, it could trigger a significant market correction.

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