AI's Trough of Disillusionment Collides With Rising Yields as Defensive Rotation Intensifies
The S&P 500 fell 1.51% and the Nasdaq dropped 2.01% as the AI repricing deepened, with Microsoft down 20% from its peak and Oracle cut in half. Utilities and real estate led losses as the 10-year yield climbed to 4.39%, while gold's surge to ,574 and oil near signal persistent inflation pressure th