Wells Fargo became the second bank this week to be cautious about US stocks. As the market enters one of the worst performing months in history, and the midterm elections add uncertainty to AI trading, Wells Fargo warned about the outlook for US stocks in September. Wells Fargo's analyst team, led by chief stock strategist Ohsung Kwon, said investors are increasingly worried about whether the AI investment boom will continue, and the market will show a “generally cautious” sentiment after entering September. The team anticipates that concerns surrounding capital expenditure for AI infrastructure construction will reach a high point. However, they pointed out that after the mid-August sell-off, sentiment indicators were still more positive than negative.

Wells Fargo became the second bank this week to be cautious about US stocks. As the market enters one of the worst performing months in history, and the midterm elections add uncertainty to AI trading, Wells Fargo warned about the outlook for US stocks in September. Wells Fargo's analyst team, led by chief stock strategist Ohsung Kwon, said investors are increasingly worried about whether the AI investment boom will continue, and the market will show a “generally cautious” sentiment after entering September. The team anticipates that concerns surrounding capital expenditure for AI infrastructure construction will reach a high point. However, they pointed out that after the mid-August sell-off, sentiment indicators were still more positive than negative.