Crowded AI Trade Cracks as Tightening Liquidity Pressures Tech

Chris Watling says tightening liquidity, high expectations and crowded positioning helped drive the selloff in mega-cap tech and AI stocks, including Intel (INTC), Amazon (AMZN) and Alphabet (GOOGL). He says corporate America remains resilient, supported by strong cash flow, low debt, record margins and a CapEx boom, but warns that lofty expectations leave stocks vulnerable to disappointment.

Morning Trade Live

02 Nov 2026

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