Citigroup downgrades US equities to 'neutral' on AI concerns
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- ✓Citigroup strategists downgraded US equities to neutral from overweight on November 9.
- ✓They said, "We worry that positioning on key indices, such as the Nasdaq, could reset lower into net-short territory." This shift followed a sharp selloff, as investors grew concerned about high AI spending and potential new government regulations.
Story at a Glance
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- Indian Markets
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- Reuters
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- 1 Minute(s)
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- India Economy
Nov 9 (Reuters) - Citigroup strategists downgraded US equities to "neutral" from "overweight," saying they were looking for cleaner positioning and more stable sentiment around AI stocks after a sharp selloff on concerns about soaring AI spending and tougher regulation.
"We worry that positioning on key indices, such as the Nasdaq, could reset lower into net-short territory," Citigroup strategists led by Beata Manthey said in a note on Monday.
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Reporting by Kanchana Chakravarty in Bengaluru; Editing by Shreya Biswas
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