Woofun AI reports that Goldman Sachs characterizes the recent US stock market decline as a structural adjustment driven by large-cap technology stocks, rather than a definitive signal of a market peak. The S&P 500 is projected to close the week down over 1.5%, yet macroeconomic indicators remain supportive, with oil prices dropping 10%, the 10-year Treasury yield falling to 4.37%, and May's core PCE inflation meeting expectations.

The strategist notes that while the seven major tech giants fell between 3% and 8%, dragging down the index due to their high weighting, market breadth has actually widened with eight of eleven sectors posting gains. Goldman Sachs warns that investor focus is shifting toward the sustainability of AI capital expenditures, which may peak this year or next, but advises maintaining exposure to assets with strong earnings momentum rather than exiting the market.