Wealthion · Monday, August 3, 2026
Jim Bianco observes a significant divergence between AI-related stocks and the rest of the S&P 500, suggesting they are effectively operating as two separate markets. He points out that on a recent Monday, while the broader market was down, the 459 non-AI stocks actually rose by nearly 1%, indicating a decoupling in their performance and correlation.
“So it's like the AI stocks are almost the same size as everything that's not AI in the S&P 500.”
“So what does that tell you about the economy?”
“So it's almost like it's become two different stock markets right now. And they're not even correlating with each other.”