Capital Economics: US Stock Market Unlikely to Return to October Highs in the Short Term

On November 6, Joe Maher, an economist at Capital Economics, stated in a report that even if market concerns about the political outlook in the United States prove to be excessive and the stock market rebounds in the short term, it may still struggle to return to the highs seen in early October. Maher pointed out that the catalyst for the overnight market sell-off was investors' worries that Democrats might seek to regulate the artificial intelligence industry and restrict the construction of data centers. He noted that there are already signs of weakness in market sentiment towards AI trades, and the US stock market is showing many characteristics typical of the late cycle; this event could serve as a triggering factor, leading to a longer-lasting retreat from the AI stock frenzy.

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