[JPMorgan Warns of U.S. Stock Market Pullback Risk in Fall, AI Boom May Echo 2000 Tech Bubble] Odaily Planet Daily News - JPMorgan has warned that although major global stock indices remain in an upward trend, the market may face a pullback risk from late summer to early fall. The bank stated that the internal structure of the U.S. stock market has recently been deteriorating, with funds beginning to shift toward defensive assets and investor confidence in artificial intelligence (AI)-related stocks weakening. JPMorgan strategist Jason Hunter pointed out that the current AI trading frenzy bears similarities to the tech stock bubble of 1999 to 2000. The market's excessive concentration in the tech sector could heighten the risk of a correction. Additionally, rising U.S. Treasury yields, geopolitical tensions in the Middle East, and slowing consumer spending were also identified by JPMorgan as potential sources of market pressure. JPMorgan believes that while the current AI investment cycle still holds long-term growth potential, in the short term, market valuations, capital crowding, and investor expectations could expose tech stocks to greater volatility risks.