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The S&P 500’s information-technology sector is under increasing pressure this month, with some investors fearing a bubble has formed in the stock market amid the artificial-intelligence race.
Rob Arnott, chairman of Research Affiliates, told MarketWatch on Monday that he worries some Big Tech stocks in the so-called Magnificent Seven are now in “bubble territory,” pointing to Nvidia Corp.
NVDA and Tesla Inc. Shares of Nvidia, which will report quarterly earnings on Wednesday, fell sharply Monday, dragging down the Roundhill Magnificent Seven ETF MAGS, an exchange-traded fund focused on Big Tech.
