Investors face risks as A.I. tech boom unfolds.

The concentration of Big Tech in the S&P 500 is at extreme levels, leaving investors vulnerable to significant losses in the artificial intelligence trade, warns Julian Emanuel, senior managing director at Evercore ISI. Microsoft, Apple, Amazon, Nvidia, and Google parent Alphabet are listed as concerns due to clustering in the names. Emanuel advises overweighting cash for protection against losses and finding yields at 5% attractive. He believes the next market downturn will be sparked by debt ceiling chaos and a troubled economy over the next few months.