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AI concept stocks fell, with funds flowing into large pharmaceutical stocks, and the State Street Healthcare ETF hit a new all-time high.
Funds are rapidly flowing into the large-cap pharmaceutical sector as AI concept stocks face a sell-off, according to Wallstreetcn.com. On Thursday, the State Street Health Care Select Sector SPDR ETF hit an all-time high of $177.19, accumulating a 5.6% gain over the past five trading days. Eli Lilly's stock closed up 3.4% on Thursday, marking its third-highest closing price ever, while AbbVie closed at $283.40, its second-highest historical close, just one day after setting a new record. Investors are shifting towards defensive assets, triggered by escalating market concerns over the scale of AI capital expenditures and the slowdown in Anthropic's revenue growth.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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