‘Another dot-com bubble?’ How OpenAI, Anthropic IPOs could pressure stocks in 2027

Paul Tudor Jones, legendary hedge fund manager and founder and CIO of Tudor Investment, flagged that 2027 could be an extremely difficult year for US stocks, as several big-ticket technology IPOs, rising equity supply and mounting fiscal deficits threaten to weaken the market’s four-year bull run.

“2027 is going to be really, really challenging for the stock market,” Jones told CNBC’s Squawk Box on Tuesday. “You’ve probably got the most negative flow picture for the US stock market that we’ve had, say, since 2002.”