Citi downgrades US stocks and tech stocks, turns bullish on European stocks.

BlockBeats news, November 9 - Citi has downgraded US equities, global tech stocks, and European tech stocks to "neutral," citing weakening AI market sentiment and the risk of further investor sell-offs.

The bank warned that the Nasdaq could fall another 5% before positioning decisively turns bearish. Although Citi remains constructive on AI in the medium term, it wants to see market sentiment and earnings expectations stabilize further before turning bullish again.

Meanwhile, European equities excluding the UK were upgraded to "overweight," benefiting from falling oil prices and lower tech stock exposure.