By Jim Edwards
Publication Date: 2025-12-18 11:51:00
The S&P 500 closed down 1.16% yesterday, marking four consecutive losing sessions for the index, which is now 2.6% below its all-time high set on December 11th. As usual, the decline was led by technology stocks. oracle fell 5.4% and its AI data center competitor CoreWeave lost more than 7%.
Two things have rocked the tech sector:
First: “Big Short” investor Michael Burry posted a chart of Wells Fargo on X This shows that stocks now make up a larger portion of U.S. household wealth than real estate. This has only happened twice in history, once in the 1960s and again just before the dot-com crash in 2000. “The last two times, the ensuing bear market lasted years,” Burry said.
“The reasons for this are numerous, but they certainly include the gamification of stock trading, the country’s gambling problem due to its own gamification, and a new ‘AI’ paradigm backed by trillions.” [of dollars] the ongoing planned capital investments supported by our wealthiest companies and…
