Fundstrat's Tom Lee says the AI stock selloff is nearing its end and presents an opportunity rather than the start of a deeper decline, after the Nasdaq Composite fell 2.6% on Thursday. He notes Treasury yields have moved back below 5% and the Fed could be turning potentially dovish, while arguing that tighter debt markets are restraining excessive speculation. He compares the situation with Cisco's 1997 drop and views AI infrastructure, memory stocks, Nvidia, the Magnificent Seven and software favorably, estimating $30 trillion in AI infrastructure spending over the next 25 years. After hours, SPY gained 0.15%, QQQ rose 0.07% and DIA climbed 0.13%.
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artificial intelligenceFedNVDAbondsNasdaq
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Related tickers and likely impact
NVDA
▲ Likely positiveNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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