Retail cut options and margin bets after record levels.
Similar tops in 2018 and 2021 brought months of tech weakness.
Corporate and household debt looks fine.
Leveraged ETFs and retail speculation cool off.
BofA says AI profits may drop with cheap models.
Customers push back on high prices.
Defensive stocks and bonds may do better if AI cools.
JPM: RETAIL DELEVERAGING COULD HIT TECH STOCKS
JPMorgan warns that retail investors are reducing leverage in options and margin accounts after reaching extreme levels. Similar peaks in 2018 and 2021 were followed by multi-month tech stock corrections. While corporate and…
— *Walter Bloomberg (@DeItaone) June 25, 2026
JUST IN: JPMorgan warns extreme retail leverage is starting to unwind, potentially triggering a multi-month tech-stock correction.
— Polymarket (@Polymarket) June 25, 2026
BOFA: DEFENSIVES COULD SHINE IF AI HYPE FADES
Bank of America strategist Sebastian Raedler warns investors to consider defensive sectors like consumer staples and pharma if AI spending proves unsustainable. He argues AI profitability may fall as cheaper models emerge and…
— *Walter Bloomberg (@DeItaone) June 25, 2026