Is this going to wreck the bull market?

Why the experts are getting worried that the bull run might be over soon

After a grueling stretch, investors are naturally asking a familiar question: Is the worst of the pullback behind us, or are we on the leading edge of a deeper market correction?

July proved to be a challenging month for equities. Tech heavyweights bore the brunt of the selling pressure, dragging the Nasdaq Composite down 3.2% in its sharpest monthly decline since early spring. While the S&P 500 dipped a modest 0.1% and the Dow Jones Industrial Average managed a tiny 0.3% gain, the turbulence beneath the surface left many portfolios shaken.

The tech-heavy Nasdaq Composite fell 3.2% in July, with the last two trading days of the month leaving investors wondering if the worst is behind us

The anxiety stems from a convergence of headwinds: mounting skepticism over the staggering costs of artificial intelligence infrastructure, a sudden spike in crude oil prices driven by military conflicts in the Middle East, and a Federal Reserve that seems content to keep interest rates higher for longer.

To help make sense of the noise, three leading portfolio managers and market strategists shared their perspectives on where risk is building and how the remainder of the year might play out.