Paul Tudor Jones said the stock market could face a difficult 2027 as new share issuance and AI-related IPOs add supply. He said the conditions could be the most negative for U.S. equities since 2002.
01Summary
- 01Paul Tudor Jones told CNBC on Tuesday that 2027 could be "really, really challenging" for the stock market.
- 02He said the U.S. stock market may face its most negative flow picture since 2002.
- 03Jones said buybacks and mergers and acquisitions have helped the four-year bull market by reducing equity supply, but that trend is turning.
- 04He pointed to upcoming AI-related offerings from Anthropic and OpenAI, and one recently completed in SpaceX.
- 05Jones said he is long oil and thinks it could rise another $20 to $25 after the midterms.
02Why it matters
His comments point to a possible shift from market support to market pressure if more shares are sold into the market. That matters to investors tracking whether the long AI-led rally can continue.
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