Policy Friction Grows

its chance, of the story’s futures

−0.2%on the S&P 500, if it happens

Large Chinese frontier models draw more scrutiny over data security, model safety, and cross-border cloud deployment. The effect is sector-specific rather than macroeconomic, but it can slow adoption for AntLingAGI, DeepSeek, and GLM.

What it moves

Technology−0.4%
Business Services−0.1%
Telecommunications−0.1%
Industrials+0.1%

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.

Policy Friction Grows

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