The safe-haven function of U.S. Treasuries returns, and the sell-off of tech stocks intensifies

As the sell-off of technology stocks intensifies, investors are returning to the bond market in search of safety. An indicator measuring the "inverse relationship" between U.S. Treasuries and AI-related stocks has risen back to levels seen a year ago. Nomura Holdings strategists stated that the market is reassessing the likelihood of a "growth panic" in the U.S. based on the "reset" of the AI boom.