[Citi Downgrades US and Global Tech Stocks to Neutral, Upgrades European Stocks to Overweight] (According to Investing.com) Citi has tactically downgraded its ratings on US, global, and European tech stocks from "overweight" to "neutral," citing the possibility of further reductions in investor positions. At the same time, it upgraded its ratings on European stocks excluding the UK to "overweight." Citi stated that AI market sentiment weakened significantly, partly due to the midterm election results raising questions about the long-term path of AI spending. The Nasdaq's position may shift from neutral to net short, requiring a further decline of approximately 5% to truly turn negative. Citi remains bullish on AI in the medium term but will only restore its overweight rating after position clearing and AI sentiment stabilizing.