The Nasdaq 100 index experienced a short-lived bounce after a recent selloff, recovering to its 200-day moving average. However, this rebound is considered unsustainable as the broader selloff is expected to continue. The decline is driven by anticipated cuts in AI capital expenditures over the next two years, following the US midterm elections. The AI sector's downturn is still in its early stages, with a sharper selloff expected once AI companies start lowering their 2027 financial guidance.
The Nasdaq 100 index's recent bounce to its 200-day moving average comes amid a broader selloff expected to continue due to anticipated AI capital expenditure cuts. For readers following the Technology sector, here is Pluang's market snapshot as of Nov 10, 2026 18:12 WIB: out of 150 priced US Technology stocks, 51 rose and 89 fell. Notable movers include QUBT at USD 6.63 with a 1-day change of -3.35% and 98% sell order activity, EGHT at USD 2.23 up 2.76% but with 100% sell orders, and ZETA at USD 31.54 down 2.71% with a near-even buy/sell split.
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