Peter Schiff Says Most Stocks Are in Bear Market as AI Leaders Carry the Index

Peter Schiff says 479 US stocks hit 52-week lows against just 60 highs, an eight-to-one gap. The economist and gold advocate argues most stocks are in a bear market. Schiff says President Donald Trump takes credit for a booming market. The S&P 500 has returned about 14% in 2026, per Goldman Sachs, so the question is who drives it. Does the Data Back Schiff’s Bear Market Call? Goldman Sachs strategist Ben Snider put the median S&P 500 stock 16% below its 52-week high in a September note . Meanwhile, AI shares are holding the index up, the bank said. Breadth, meaning how widely gains are shared, sits at its weakest since the dot-com bubble. Likewise, earnings are concentrated.

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