A previous version of this column inaccurately described the effect of SpaceX's share-price decline. The stock did not close Monday below its IPO price but below its closing level in its first post-IPO trading session. The story has been corrected. By Barbara Kollmeyer
Strategists say it's time investors protect against downside
Goldman Sachs warns that investor expectations for the artificial-intelligence trade may be racing ahead of reality.
A summer swoon for tech stocks may be taking hold, as another bumpy ride looms Tuesday after South Korea's red-hot stock market slumped 10%.
Our call of the day from Goldman Sachs strategists warns that investors may be racing ahead of what the artificial-intelligence trade can ultimately deliver. While the AI investment boom remains on track, "the tension between favorable fundamentals and high valuations continues to grow," Goldman strategists Dominic Wilson and Vickie Chang told clients in a note late Monday.
