The AI trade got crushed. The bull market barely noticed: Chart of the Day
• The Technology Select Sector SPDR Fund (XLK) experienced a significant pullback in the "AI trade" after rallying from its March 30 low. • Despite the decline in tech valuations, the broader bull market remained resilient, avoiding a widespread bear market crash. • This divergence suggests that tech stocks have become more attractively priced without triggering a systemic collapse in overall stock prices.
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