US stocks may be headed for a sharp correction, warns Andrew Freris amid AI spending boom

Strategist Andrew Freris has warned of a potential sharp correction in US stocks, arguing that valuations driven by an AI spending boom are not backed by actual earnings growth, with several market leaders reporting no profits or continued losses. He echoes concerns from the Bank for International Settlements about excessive borrowing and repeated fundraising pointing to financial excess rather than sustainable growth. Freris favours select Asian markets such as Japan, Singapore, Taiwan and South Korea, with Japan standing out for its healthy economy and disciplined monetary policy.