AMP chief economist and head of investment strategy Sean Oliver said investors are still gauging the market impact of a Democratic win in the midterm elections and outcomes remain unclear. Recent volatility reflects mounting concern that tech and AI-related positions are overvalued, leaving them more vulnerable to shocks. Those valuation pressures have been building and the midterms may merely have been the trigger for a pullback. Oliver cautioned it is too early to call a market bottom; if the

AMP chief economist and head of investment strategy Sean Oliver said investors are still gauging the market impact of a Democratic win in the midterm elections and outcomes remain unclear. Recent volatility reflects mounting concern that tech and AI-related positions are overvalued, leaving them more vulnerable to shocks. Those valuation pressures have been building and the midterms may merely have been the trigger for a pullback. Oliver cautioned it is too early to call a market bottom; if the economic outlook is unchanged, the fall is likelier to be a correction than the start of a bear market.