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Tech Stocks Hit By Losses as AI Concerns Spread |Bloomberg Businessweek Daily 6/23/2026

Watch on YouTube ↗  |  June 23, 2026 at 21:45  |  51:55  |  Bloomberg Markets
Speakers
Mary Ann Bartels — Chief Investment Strategist, Sanctuary Wealth
Norah Mulinda — Market Reporter, Bloomberg
Sean Gadd — CEO, Latham Group
Katherine Kostereva — CEO, Creatio

Summary

Tech stocks fell sharply as AI demand worries spread, with semiconductors leading losses. Mary Ann Bartels of Sanctuary Wealth characterized the move as an overbought correction and highlighted a sector rotation into small caps, banks, and biotech. President Trump aimed to refocus on the economy during a Pennsylvania visit, while business leaders discussed AI adoption and consumer spending trends.

  • Tech stocks tumble led by semiconductor sell-off on AI demand concerns.
  • Mary Ann Bartels sees a sector rotation from overbought tech into small caps, banks, and biotech.
  • President Trump visits Pennsylvania to shift focus to the U.S. economy ahead of midterms.
  • Creatio CEO Katherine Kostereva discusses enterprise AI workflow automation.
  • Latham Group CEO Sean Gadd talks pool demand, fiberglass growth, and consumer spending.
  • Markets off worst levels but S&P 500 down 1.4%, Nasdaq down 2.2%.
Ideas
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 16:16
Semis overbought, correction likely.
Technology and semiconductors are extraordinarily overbought relative to the rest of the market, and a correction of 20-30% in semis is possible, though this is not the end of the long-term tech rally.
SOX MED
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 18:05
Banks strong amid rotation.
Banks are performing very well amid a sector rotation out of overbought tech into other areas of the market.
KBE MED
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 18:05
Biotech breaking out amid rotation.
Biotech is starting to break out and is performing very well as part of the rotation away from overbought technology.
XBI MED
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This Bloomberg Markets video, published June 23, 2026, features Mary Ann Bartels discussing SOX, KBE, XBI. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mary Ann Bartels  · Tickers: SOX, KBE, XBI