this post was submitted on 29 Sep 2023
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JPMorgan’s chief strategist: "we think there is now a higher likelihood of a crisis over the next 6 to 12 months, the severity of which could be higher than market participants anticipate" (www.ft.com)
submitted 1 year ago by yogthos@lemmy.ml to c/us_news@lemmygrad.ml
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[–] yogthos@lemmy.ml 6 points 1 year ago

Basically, the stock market ran on AI hype because people thought that AI would transform the economy somehow. Now the hype is dying down, people are coming back to reality where economy isn't actually growing and tech stocks aren't gonna be enough to save it.