The Zhitong Finance App learned that the S&P 500 index is only about 3% behind the latest record high, yet 60% of the constituent stocks in this benchmark index are mired in a bear market. Bobby Molavi, head of executive services at Goldman Sachs EMEA and trader, said the scene was shocking. He said that strangely enough, the capital expenditure of technology giants is the core of the AI-driven rise in the stock market, yet the stock prices of these giants and capital expenditure beneficiaries are falling at the same time.

The Zhitong Finance App learned that the S&P 500 index is only about 3% behind the latest record high, yet 60% of the constituent stocks in this benchmark index are mired in a bear market. Bobby Molavi, head of executive services at Goldman Sachs EMEA and trader, said the scene was shocking. He said that strangely enough, the capital expenditure of technology giants is the core of the AI-driven rise in the stock market, yet the stock prices of these giants and capital expenditure beneficiaries are falling at the same time.