U.S. Stocks May Struggle to Reclaim Early-October Highs

U.S. stocks may struggle to revisit their early-October highs in the near term, even if political worries prove overstated, 乔·马赫, a market economist at 凯投宏观, said Nov. 6.

乔·马赫 pointed to worries that Democrats might pursue AI-industry rules and restrictions on data center construction in Congress and state governments as the apparent spark for an overnight stock market drop.

He said sentiment toward the AI trade had already looked fragile, while U.S. equities showed several patterns associated with the later stages of a market cycle. The latest episode could trigger a more prolonged retreat from the AI stock boom, he said.