J.P. Morgan warns of the risk of a fall pullback in US stocks, the AI boom may repeat the 2000 tech bubble

Comparing news, JPMorgan (JPMorgan) warned that although the world's major stock indexes are still on an upward trend, the market may face the risk of a pullback in late summer to early fall. The bank said that recently the internal structure of the US stock market is deteriorating, capital has begun to shift to defensive assets, and investors' confidence in artificial intelligence (AI) related stocks has also weakened. Jason Hunter, a strategist at J.P. Morgan Chase, pointed out that the current AI trading boom is similar to the 1999-2000 tech stock bubble. The market's excessive concentration of positions in the technology sector may increase the risk of adjustment.

Furthermore, the continued rise in US Treasury yields, geopolitical tension in the Middle East, and slowing consumer spending have also been identified by J.P. Morgan as potential sources of market pressure.

J.P. Morgan believes that the current AI investment cycle still has potential for long-term growth, but market valuations, capital congestion, and investor expectations in the short term may put technology stocks at greater risk of volatility.