Warsh Hits the AI Trade: Here Are the 10 Biggest Losers In 30 Minutes
The Federal Reserve didn’t raise interest rates Wednesday, holding them steady at 3.50%-3.75%. Yet as markets absorbed Federal Reserve Chair Kevin Warsh’s hawkish message between 3 p.m. and 3:30 p.m. ET, some of Wall Street’s highest-flying AI stocks suffered sharp losses. Warsh’s repeated insistence that “there’s only