Fed Chair Walsh just said, 'AI is the most transformative change of my lifetime.' Nasdaq immediately gave him a reality check. Tech stocks responded to this praise with a nosedive. The Nasdaq just posted its worst weekly performance since June, dropping 4.5%. The Philadelphia Semiconductor Index has fallen for 8 consecutive days, marking its longest losing streak since 2008. Faith in AI is being revalued in the U.S. stock market. Fear of AI, however, is being absorbed in the crypto space. Same narrative, two markets, two fates.