True, but consider that a huge amount of retail investors’ portfolios are tied to the S&P 500/NASDAQ. Think retirement savings, IRAs, 401(k)s, pensions, etc. Then consider that the entire market is effectively propped up by AI right now (see: The entire stock market is being carried by these four AI stocks). If the market gets a 60% correction, it’s going to be the middle class losing their shirts all over again.