AI-linked stocks account for about 45% of the S&P 500 and dominated the market in October. Chipmakers declined, fueling concerns about artificial intelligence spending and financing. Without AI-related stocks, the S&P 500 outperformed the full index by 6.4 percentage points in October, putting it on pace for a record month. This reversal came one month after non-AI stocks underperformed by 5.1 points. Two events this week could determine whether the record will ultimately be set.
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