Policy Power Backlash

10%its chance, of the story’s futures

−1.2%on the S&P 500, if it happens

The market narrative broadens from spending discipline to the physical constraints around AI expansion, including electricity demand, grid connections and regulatory approvals. This is less likely over a one-to-two-day horizon, but policy headlines could intensify pressure on AI infrastructure plans.

What it moves

Technology−2.1%
Utilities−0.5%
Industrials−0.3%
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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