Over 50% of S&P 500 stocks down 20%+ from highs as AI bubble fears spread
IanArawjo · x · 2026-11-03
A widely shared market take claims the AI bubble may finally be popping: more than 50% of S&P 500 companies have dropped 20% or more from their highs, including Nvidia, Amazon, Google, Intel, Meta and Netflix (charts attached). Investors are increasingly questioning whether massive AI infrastructure spending will actually pay off — AI may change the world, but that doesn't guarantee every company pouring billions into it will profit.