The Bank of Rich Countries joined Morgan Chase in a cautious view of the United States stock market

On 2 September, the Bank of Rich Countries became the second prudent bank this week. As the market enters one of the worst-performing months in history, and the mid-term elections add uncertainty to the trade in artificial intelligence, the rich countries warn of the future of the United States share in September. A team of rich-country bank analysts, led by the chief stock strategist Ohsung Kwon, stated that investors were increasingly concerned about the sustainability of the AI investment boom, and that the market would be “generally cautious” after September. The team expects that concerns about capital expenditure for infrastructure development in AI will reach a high point. They noted, however, that after the sale in mid-August, emotional indicators remained more positive than negative. The Kwon team is not the only body that has moved to a more cautious position this week. On Monday, Morgan Chase also adjusted the stock perspective for the coming weeks to “tactical prudence”. Earlier, the Federal Reserve Chairman, Kevin Walsh, made a hawk speech that pushed the market to raise its bet on this year ' s interest rate hike. Bank analysts in rich countries have turned to caution mainly because of concerns about overinvestment in AI and the possibility that the United States may have more time to suspend its data centre as the mid-term elections approach. In a report to clients on Tuesday, Kwon wrote: “Ai needs will continue to accelerate, but economy and capital will be a constraint”. He said: “We believe that if economic growth is not sufficient to support further investment, the AI capital expenditure cycle could enter an advanced phase in 2027. The rate of increase is expected to peak in the next quarter.” At the same time, bank analysts in rich countries expect that the trend towards the suspension of the data centre project will continue to rise and that more will likely be suspended in the future as the medium-term elections approach。