Bessent says FSOC will establish working groups on market and household resilience, as well as artificial intelligence

Easing and Rotation

As is often the case at the start of the year, investors are venturing into different territories than those they were exploring only weeks ago. In practical terms, bets on the big tech names are losing steam, while bargain hunters seek out alternative - and, they hope, lucrative - avenues. Wall Street has been down for the past two days as a result, although the shift began earlier. Meanwhile, Washington is working to defuse the tensions that have recently emerged. The Supreme Court, for its part, has yet to tackle the thorny issue of tariffs.