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Tom Lee, head of research at Fundstrat Global Advisors, says February’s market action may have felt like a bear market, but the data tell a different story.
‘It Wasn’t Really A Bear Market‘
In a Friday appearance on CNBC Squawk Box, Lee pointed out that the S&P 500 was down only about 1% in February, hardly a true bear-market decline.
According to Lee, investor anxiety is being driven more by uncertainty around artificial intelligence than by weakening fundamentals.
He emphasized that AI development continues to accelerate, with the U.S., and possibly China, positioned as primary creators and beneficiaries.
Lee argued that much of the pessimism reflects speculative downside scenarios…
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