Wall St ends lower as bank CEOs warn of possible pullback, fueling tech bubble jitters
By Stephen Culp
Tue November 4, 2025 4:21 PM
The “glass half empty” people came out of the woodwork today. For quite some time people like Jamie Dimon have been warning of stretched valuations and the distinct possibility of a coming bubble, especially in tech being stretched so much by very heavy investment in AI. Today Dimon was joined by the likes of the Morgan Stanley and Goldman Sachs CEOs stating their beliefs that a bubble was indeed possibly coming due to all the recent record highs triggered by abundant enthusiasm with AI.
Both tech and industrials suffered significant 3-digit losses resulting in the biggest one-day drop since October 10th. Up until now, Q3 has been considered quite healthy but today that sentiment changed to not healthy enough. Six of the Mag 7 stocks dropped, the overall chip index down 4%. Dimon has predicted a major correction in the next six months to two years. The sentiment is now profit-taking or, as one expert put it, “Investors seem a little more worried about valuation than they have in a while, at least today.” Volume remains below the 21 billion average, coming in at 19.8 billion.
DJ: 47,336.68 -226.19 NAS: 23,834.72
+109.77 S&P: 6,851.97
+11.77 11/3
DJ: 47,085.24 -251.44 NAS: 23,348.64
-486.09 S&P: 6,771.55
-80.42 11/4
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