According to Bloomberg, the Nasdaq 100 fell 6.7% in October, its worst month since the March 2025 tariff selloff, while SPY dropped about 1.1%. Truist's Keith Lerner notes the S&P 500 tech sector has had six corrections of at least 10% since 2023, four of them between 14% and 27%. Lerner sees potential downside of roughly 2% to 8% for tech from current levels, citing past pullbacks, valuation and technical support. Some strategists see the selloff as a healthy correction rather than the start of a prolonged bear market, with tech stocks up about 230% since the bull market began in October 2022 versus 111% for the S&P 500.
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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