Scan the Nasdaq stocks hitting 52-week lows this week and a pattern jumps out: many of the biggest names build, power or rent space for artificial intelligence. Few of these businesses are shrinking. Several reported record revenue in recent weeks, and their shares kept sliding anyway.
The reason has less to do with earnings than with money and politics, and both turned sharply worse over the past month.
Credit Fears Hit the AI Builders First
The first shock came from the bond market. CRWV...