euphoria

The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.

“A lot of very positive outcomes were priced in before the past week, and there is potential for some of that euphoria to continue to fade,” he said.

So when the euphoria dies down, there are still plenty of tough times ahead.

Markets have swung from euphoria to fright in the space of barely a week but it’s not clear that the fundamental dynamics of the U.S. economy or corporate profits have altered all that much.

Meanwhile, the investment euphoria for the emerging technology of artificial intelligence has outstripped the proven demand from end customers.