Apollo's Slok Warns Dollar Is Vulnerable to Painful AI-Driven Pullback
- Apollo Chief Economist Torsten Slok warned July 13 that the U.S. dollar and equity market are increasingly exposed to a "painful repricing" if AI investments fail to deliver productivity gains beyond the tech sector (Bloomberg).
- Slok noted that foreign investors chasing U.S. AI equities have largely left currency exposure unhedged, meaning a reversal in capital inflows could hit the dollar disproportionately.
- The warning adds to a growing chorus of macro strategists flagging concentration risk in the AI rally as a key vulnerability for U.S. asset markets.