EconomyHSBC’s Max Kettner says the AI trade has not fundamentally changed

Wall Street trading desks had expected the stock rally to resume after the election, but that view backfired on Thursday. HSBC Chief Multi-Asset Strategist Max Kettner says the sharp selloff in AI and US equities does not yet signal a fundamental break in the trade; positioning and forced selling may be driving volatility. He also discusses AI valuations.