AI de-risking continues

40%its chance, of the story’s futures

−1.8%on the S&P 500, if it happens

The hedge-fund underweight signal is treated as confirmation that the AI trade has moved from crowded momentum to forced de-risking. Selling remains concentrated in semiconductors, cloud platforms and the most expensive AI infrastructure beneficiaries.

What it moves

Technology−3.2%
Telecommunications−1.0%
Finance−0.9%
Industrials−0.4%

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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