deutsche bank: an AI crash could take the dollar down with it, and gold is dumping too

Deutsche Bank strategist George Saravelos warned, per @DeItaone, that a US-led tech selloff could push US stocks and the dollar lower at the same time. Foreign investors hold over $20 trillion in US equities, roughly 90% of that value from price gains, so a fall could trigger more currency hedging by those investors. Shortly after, @DeItaone also posted that spot gold extended losses, down 3% to $3,908.13 an ounce. This fits the running AI-bubble worry: Intel's record crash, talk about AI and jobs, and House Democrats saying no bailout for AI firms. Crypto has also been bleeding after the Binance hack, and gold and silver have slid to their lowest since November. The usual shelters are all being sold together.