Paul Tudor Jones says 2027 could be a really challenging year for the stock market

Legendary hedge fund manager Paul Tudor Jones told CNBC that next year could be a tough one for the stock market because of increased equity supply from big tech initial public offerings coming down the pipe as well as a potential reckoning from the ballooning U.S. fiscal deficit. "2027 is going to be really, really challenging for the stock market," Jones told "Squawk Box" on Tuesday. "You've probably got the most negative flow picture for the U.S. stock market that we've had, say, since 2002."The founder and chief investment officer of Tudor Investment said that corporate buybacks, along with mergers and acquisitions, have been a tail wind for the stock market for most of this four-year bull market as they decreased the equity supply. That tide is now turning against the market with major offerings ahead in the AI space from Anthropic and OpenAI, along with one just finished for SpaceX. There will also likely be more secondary offerings from companies in order to raise money for the AI build-out, said Jones. It all adds up to an increased equity supply picture that could weight on prices.The billionaire hedge fund manager's comments come as investors worry that a bull market now ...