Selloff Extends

38%its chance, of the story’s futures

−1.3%on the S&P 500, if it happens

The most likely near-term path is further de-risking after the Nasdaq 100 enters correction territory and investors reassess AI spending, valuations, and bond yields. Apple holding the market-cap lead over Nvidia reinforces a rotation away from the highest-duration AI winners rather than ending the broader tech pressure.

What it moves

Technology−1.7%
Consumer Cyclicals−0.4%
Riskier companies' borrowing costs▲ up
Market volatility▲ up

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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