A fresh wave of AI anxiety is moving through global markets, adding to the nervous mood on stock exchanges. According to HBL, the pressure comes from massive artificial intelligence investments, concerns over circular funding flows and intensifying competition from China.

Esbjörn Lundevall, a stock strategist, says small investors who prefer to avoid risk should be on guard. His warning comes at a time when enthusiasm around AI remains strong, but markets are increasingly questioning how solid the sector’s growth story really is.