Macroeconomic Research Director on Tech Volatility and Portfolio Diversification (with Guy Johnson, Tom Mackenzie)

Aneeka Gupta discusses how the recent tech selloff and high volatility are causing investors to rethink allocations. She notes that central banks are now more hawkish and less likely to rescue markets, making high-dividend sectors attractive. She sees the chip selloff as a valuation correction, not a fundamental one, and expects rangebound trading over the summer.

Yields

explicit

RUT

Oil

Metals

USD

WisdomTree 6.0
Financials $111.00B
Aneeka Gupta 7.5

Macroeconomic Research Director on Tech Volatility and Portfolio Diversification (with Guy Johnson, Tom Mackenzie)

ndx

Over the summer period, we're likely to get a bit more range-bound trading.

4 calls

-2

no reliable edge (random outcomes)

10/31/2025 1:12:49 PM	short term up	7 days later	-1.39%	-1.39%
9/12/2025 6:57:02 PM	short term up	7 days later	+1.92%	+1.92%
8/25/2025 10:11:30 PM	short term up	7 days later	-1.25%	-1.25%
8/22/2025 11:05:25 PM	short term up	8 days later	-0.83%	-0.83%

Show all 4 ndx results

Guy Johnson

Asks how the tech selloff and volatility ripple into the fixed income and macroeconomic story.
Aneeka Gupta

Volatility is causing investors to rethink allocations; portfolios are very concentrated in tech. Investors are looking to diversify, and the high-dividend sector, which was under-invested in, performed best during the Q1 2026 volatility.
Tom Mackenzie

Asks if central banks will rescue markets this time, given they have cut aggressively in the past.
Aneeka Gupta

Central banks are not likely to jump to salvage the situation this time. They have struck a more hawkish tone following the US-Iran war, as seen in the recent FOMC meeting and ECB rate hike.
Tom Mackenzie

Asks if there is a delinking between the oil story and equities.
Aneeka Gupta

The feed-through channel continues. Higher oil prices benefited the energy sector, but equity markets continue to reward the fastest-growing areas, which is tech.
Tom Mackenzie

Asks if the recent selloff in chip stocks is a valuation or fundamental correction.
Aneeka Gupta

It is a confluence of factors: the MSCI watchlist disappointment, broader AI de-rating, and mechanics of a market that has had a very strong run (up 90% YTD). It is a valuation correction, not a fundamental one, but a stark reminder of concentration risk.
Guy Johnson

Asks if the market can go sideways given the concentration and the upcoming Micron earnings.
Aneeka Gupta

Expects rangebound trading over the summer. Clarity will come from Q2 earnings and central bank trajectory. If central banks adopt a less hawkish tone, it would be more bullish for equities.

SignalTube

markets at a glance