The "Goldilocks" market may have ended! Citi's model turns bearish on tech stocks, with capital shifting heavily into defensive sectors.

Zhitong Finance APP has learned that Citi pointed out in its latest research report that its fund flow model has completed a decisive withdrawal from the technology sector, establishing materials, communication services, and healthcare sectors as priority long directions, while pushing the technology sector into net short territory. This position change marks that the selling pressure previously noted by the bank has officially peaked, and institutional allocators are expanding de-risking operations, further withdrawing from the capital-intensive artificial intelligence (AI) infrastructure sector.