Tom Lee said a large investor may have been forced to dump tech shares, as the Nasdaq Composite posted its worst month since March 2025, down 5.3%, and its worst day since June 5; Intel fell 28.6% after weak fourth-quarter guidance. The equal-weight S&P 500 rose as Lee spoke but closed down 0.79%, versus a 1.82% drop for the regular index, according to BeInCrypto. Lee said investors are waiting until November 3rd’s midterm elections; the 10-year Treasury yield closed at 4.93%, and CME FedWatch put December rate-hike odds at 72%. Amazon reported $42.4 billion in negative free cash flow, driven by heavy AI spending.
