You can still play the market with index funds. For example if someone knew that Trump was about to announce new tariffs they would sell to dodge the brief market panic.
Index funds are also heavily exposed to tech these days: https://www.slickcharts.com/sp500
So they aren’t really immune to sector changes (like a bill banning AI would crash it very heavily).
Index funds are also heavily exposed to tech these days: https://www.slickcharts.com/sp500
So they aren’t really immune to sector changes (like a bill banning AI would crash it very heavily).