According to CoinMeta, there are underlying concerns behind the record high of the S&P 500. AI Giants are masking the weakness of the U.S. stock market. According to foreign media analysis, U.S. President Donald Trump has long regarded stock market performance as a referendum on his governing achievements. Although the S&P 500 index closed at a record high this week, this upward trend was mainly driven by a few companies that have benefited from the artificial intelligence boom, obscuring the increasingly apparent signs of weakness in the U.S. economy and financial markets. With less than a month left until the mid-term elections, the stock market performance that is favorable to the Republicans in Trump's eyes may actually become a political burden. In terms of the stock market, company stocks in the consumer, tourism, transportation, real estate, and finance sectors have all declined. Over the past month, the median performance of S&P 500 index components was approximately a 4.3% drop. However, the strong performance of Meta, Microsoft, NVIDIA, and the entire semiconductor industry has masked the weak performance of most sectors of the U.S. stock market.