PremiumMorgan Stanley's AI Basket Suffers Worst Week Ever As S&P Barely Flinches
The weekend is here, and so is the latest "Global Reflections" from Morgan Stanley's Nick Savone (available to pro subs). This week's theme is travel: after last week's "don't judge a book by its cover," Savone has gone with the "scenic route," which is a polite way of describing a week in which MS's AI Tech Beneficiaries basket lost 16.5%, its worst week since inception in early 2023, the KOSPI tripped circuit breakers, CoreWeave's bonds went bidless straight into deep distressed territory, and hedge funds sold at a 3-sigma pace.
The S&P 500? Down 2.0%.