Goldman Sachs said its risk appetite indicator turned negative for the first time since March, a contrarian signal that prompted the bank to shift to an overweight recommendation on equities for the next three months. Investor sentiment has weakened in recent weeks due to a sharp correction in artificial intelligence-linked stocks, including semiconductor makers and South Korean equities. The iShares Semiconductor ETF notched nine consecutive days of losses, the longest such decline in 20 years. Goldman Sachs believes strong earnings, lower valuations and lighter positioning suggest renewed upside ahead into year-end. The bank maintains an overweight on cash, underweight on credit and neutral duration.
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