The Tech Rotation: Winners And Losers

As we wrote overnight in "The Forceful Rotation Below The Surface Has Been A Shock For Many Portfolios", recent market action, and especially on Friday, has been painfully challenging for the AI trade, following what had been a sensational first ten months of the year.

In his latest Chart of the Day, DB's Jim Reid tracks the performance of 23 AI-related stocks, comparing year-to-date returns up to 29 October with performance in the six weeks or so since. Prior to 29 October, only one of these stocks was down on the year, with the group posting an average unweighted gain of +70%. Since then, the picture has changed materially: 20 of the 23 are now lower.