[RBC Capital Markets Says Risk of Up to 10% Pullback in U.S. Stocks is Rising, Midterm Elections May Intensify AI Trading Volatility] According to a report by Jinse Finance on September 9, RBC Capital Markets strategists stated that as the U.S. midterm elections approach and the market enters a seasonally weaker phase, the risk of up to a 10% pullback in U.S. stocks is increasing. The team led by Lori Calvasina pointed out that in the past 10 years, the S&P 500 Index has declined in September during five of those years. They noted that with artificial intelligence (AI) becoming a campaign issue and triggering some backlash, the U.S. midterm election cycle could exacerbate volatility in AI trading, while the Iran war remains another negative factor. 'The risk of a first-level, more common 5%-10% pullback is rising for several reasons,' Calvasina said. She added that concerns over inflation and interest rates are overshadowing the benefits brought by recent improvements in consumer confidence.