US Market Briefing — November 1, 2026

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Fear & Greed Index

The CNN Fear & Greed Index currently sits at 26, pointing to a "Fear" state. This is a drop from 35.37 recorded on October 29, showing a rapid cooling in investor sentiment.

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Market Summary

• S&P 500: 7,580 (-140.35, -1.82%)
• NASDAQ: 25,437 (-747.73, -2.86%) — Worst day since June and worst monthly performance since March 2025
• Dow Jones: 51,770 (-571.95, -1.09%)

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Key Market Drivers and Macro Environment

1. AI and Tech Sell-off: Disappointing earnings from Amazon and weak guidance from Intel triggered a sharp decline in AI and chip-related stocks. Intel shares plummeted 30%, fueling concerns that the AI boom may be overhyped.
2. Safe-Haven Assets Preferred: Amid the tech sell-off, consumer staples and US Treasuries rose, highlighting investors' defensive stance. Meanwhile, gold prices hit a one-year low.
3. Alphabet's Soft Earnings: Alphabet's (Google) third-quarter results fell short of expectations, sending its stock tumbling and keeping earnings worries alive across big tech.

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Expert Outlook

1. AI Trade Uncertainty: Next week (November 2–6) is expected to see volatile trading due to ongoing noise surrounding the AI trade.
2. Overheating Concerns: The tech sell-off has given Wall Street a reality check, suggesting that the AI boom driving the bull market may have been overestimated.
3. Guidance Risks: Disappointing earnings and guidance from tech companies are driving a "risk-off" mindset among investors.