Technology stocks pull back, "anti-AI" sector emerges as the new winner.

With the decline of technology stocks, companies whose businesses are difficult to be replaced by artificial intelligence have become the new winners. This week, the S&P 500 index fell by 2%, mainly dragged down by software companies, while home builders, transportation companies, and heavy machinery manufacturers recorded strong gains. Consumer goods companies, seen as safe haven during economic downturns, rose by 4.7%, potentially achieving their best weekly performance since 2022. Michael O'Rourke, chief market strategist at JonesTrading, said, "Investors are rotating towards the 'AI resistant' sectors, those industries with physical, real-world elements. These sectors are good safe havens." Examples include home builders and construction product manufacturers. Citigroup analyst Anthony Pettinari pointed out that the core activities of these companies are areas that cannot be replaced by artificial intelligence. "Ultimately, it still requires humans to go to the site to build houses," said Jay McCanless, an analyst at Citizens.