Trump is privately worried AI hysteria could jolt a market excessively concentrated in AI stocks, even as his own data center push cannibalizes chips and energy and drives costs higher. Economists war

What happened: Trump is vowing to expand a "golden age" of prosperity in the final days before the midterm vote, while economists warn his AI policies have set the U.S. economy up for risk over the next two years. Key numbers: Data center spending accounted for nearly all U.S. economic growth last winter and spring. The Nasdaq 100 has about 70% of its index weight in AI-dependent companies. Why it matters: Ray Dalio and Ken Griffin warn AI stocks are at bubble levels, and Kenneth Rogoff said a 30% or larger market drop could lead to recession with limited federal tools to respond.

Trump is vowing to expand a "golden age" of prosperity in the final days before the midterm vote, while economists warn his AI policies have set the U.S. economy up for risk over the next two years.

Ray Dalio and Ken Griffin warn AI stocks are at bubble levels, and Kenneth Rogoff said a 30% or larger market drop could lead to recession with limited federal tools to respond.