Powell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway

U.S. Federal Reserve Chairman Jerome Powell bifurcated the stock market yesterday when he delivered a 0.25% rate cut that the market was expecting and then, unexpectedly, said he did not believe that the AI sector was in a bubble akin to the dotcom boom of 2000.The broad index of large-cap companies in the S&P 500 closed flat, but the tech-heavy Nasdaq 100 rose 0.55%. Tech stocks were led by Nvidia, which was up 3%, and now has a market cap of more than $5 trillion. (Its stock is down 0.7% premarket this mo ...