The tech sell-off that began in late October continued through the first half of November. While the selling was initially isolated to a handful of the Magnificent Seven stocks and others leveraged to AI—including Palantir Technologies (NASDAQ: PLTR), shares of which are down nearly 13% since—the damage has bled into numerous other sectors.
Specifically, as tech compiled a loss of 5.25% during that period, communication services dropped 4.27%, and consumer discretionary stocks fell by 3.45%. But pullbacks are healthy functions in market cycles, especially during bull markets. Investors often act impulsively during earnings season, but what matters is guidance.
