Traders work on the floor of the New York Stock Exchange (NYSE) on November 07, 2025 in New York City. <\/p>\n
Spencer Platt | Getty Images<\/p>\n
November is historically the best month<\/a> for the S&P 500, which gains an average of 1.8% during the period, according to the Stock Trader’s Almanac.<\/p>\n But the first full trading week of the month saw stocks caught in November rains.<\/p>\n The S&P 500<\/a> and Dow Jones Industrial Average<\/a> each lost more than 1%, while the Nasdaq Composite<\/a> shed around 3% \u2014 that’s its largest weekly loss since the tech-heavy index slumped 10% in the week ended April 4.<\/p>\n A few months ago, tariffs were the shadows that stalked stocks. Now, it’s fears that artificial intelligence-related stocks are trading at prices disconnected from what the firms are actually worth.<\/p>\n “You’ve got trillions of dollars tied up in seven stocks, for example. So, it’s inevitable, with that kind of concentration, that there will be a worry about, ‘You know, when will this bubble burst?'” CEO of DBS<\/a>, Southeast Asia’s largest bank, Tan Su Shan told CNBC<\/a>.<\/p>\n Goldman Sachs’<\/a> CEO David Solomon also thinks choppy waters might be ahead<\/a>.<\/p>\n “It’s likely there’ll be a 10 to 20% drawdown in equity markets sometime in the next 12 to 24 months,” Solomon said Tuesday at the Global Financial Leaders’ Investment Summit in Hong Kong.<\/p>\n That said, a pullback isn’t necessarily bad for stocks. It could even present “buying opportunities” for investors, according to Glen Smith<\/a>, chief investment officer at GDS Wealth Management.<\/p>\n After all, earnings have been “reassuring” despite worries about tech stocks’ high valuations, Kiran Ganesh, multi-asset strategist at UBS, told CNBC. That means the rain might not last and the rally could find a way to run a little longer.<\/p>\n \u2014 CNBC’s Lee Ying Shan, Hugh Leask and Lim Hui Jie contributed to this report.<\/p>\n What you need to know today<\/p>\n Major U.S. index were mixed Friday stateside. The S&P 500 and Dow Jones Industrial Average inched up more than 0.1%, but the Nasdaq Composite closed 0.21% lower<\/a>. The pan-European Stoxx 600<\/a> lost 0.55%<\/a>. U.S. futures rose Sunday<\/a> evening stateside.<\/p>\n China consumer prices pick up in October. The consumer price index, released Sunday, showed a 0.2% growth year on year. It beats analysts’ expectations of zero growth and is the first month since June that prices rose<\/a>.<\/p>\n U.S. government on track to end shutdown. Enough Democratic senators had agreed to vote for a deal that would fund the U.S. government<\/a> through the end of January, a person familiar with the deal told CNBC.<\/p>\n Another missed jobs report. The ongoing U.S. government shutdown<\/a> \u2014 which is now the longest ever \u2014 means the Bureau of Labor Statistics couldn’t release its monthly employment data. Here’s what economists would have expected the report to show<\/a>.<\/p>\n [PRO] Stocks that could bounce after sell-off. Using CNBC Pro’s stock screener tool, we found several names that are oversold, according to their 14-day relative strength index. This implies they could be due for a recovery in prices<\/a>.<\/p>\n