Goldman Sachs warns of a "hidden bear market" in US stocks, with approximately 60% of S&P 500 constituents already in a bear market.

The S&P 500 is only about 3% away from its latest all-time high, yet roughly 60% of its component stocks have already entered bear market territory. Goldman Sachs trader Bobby Molavi noted that this market dynamic is quite striking. He stated that the "oddity" lies in the fact that the capital expenditures by tech giants fueling AI-related stocks, as well as the stocks of the companies receiving these investments, have unexpectedly fallen in tandem.