CITIGROUP reports that US tech stocks are facing downside risks, with the Nasdaq 100 index falling this month
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CITIGROUP strategist David Chew stated that the Nasdaq 100 index is facing downside risks due to high positions and approximately 80% of long positions being in a loss making state. Doubts about AI valuation have led to a sell-off in technology stocks, with the Nasdaq 100 index falling about 2% this month. Goldman Sachs data shows that hedge funds significantly reduced their exposure to US technology stocks last week, with net sales reaching the highest level in over a decade. CITIGROUP also pointed out that there is bearish capital flow in the Nasdaq 100 and S&P 500, and funds are shifting towards Russell 2000.