AI slump drags S&P and Nasdaq; why it matters for Valley pensions
AP says AI-heavy stocks pulled major indexes lower on Aug. 18. Local public pensions and 401(k)s track those swings through index funds, though monthly checks don’t.
Kern and Fresno county pension systems hold U.S. stock index funds in their portfolios. FCERA says pension benefits are formula-based and don’t change with daily market moves.

