CITIC Securities said in a research note that U.S. technology stocks have been swinging with rapid shifts in the AI narrative since the second half of 2026 began, while transmission from bond credit default swaps, or CDS, to equity prices has also added to short-term volatility. The note said the decline in U.S. semiconductor hardware shares since early October has broadly remained in line with the market’s trading logic seen since mid-June. In its view, the bigger sources of pressure have come from macro liquidity stress and uncertainty tied to the midterm elections, rather than a temporary turn toward pessimism in the AI narrative. With major macro and industry disruptions over the past one to two weeks easing and a phase of more optimistic AI sentiment returning, CITIC Securities said it sees the possibility of a rebound in U.S. technology stocks after the midterm elections. The firm named semiconductor hardware as its top area of focus. The item was cited by Odaily and attributed to Jin10.
Odaily reported that CITIC Securities said in a research note that U.S. technology stocks have continued to swing in the second half of 2026 as markets react to frequent changes in the AI narrative. The note added that transmission from bond CDS to stock prices has also pushed up short-term market volatility.
CITIC Securities said the pullback in U.S. semiconductor hardware shares since early October has still been broadly consistent with the trading logic seen since mid-June. The firm said macro liquidity pressure and uncertainty around the midterm elections have weighed on the sector more than any temporary shift toward pessimism in the AI narrative.
According to the note, major macro and industry disruptions over the past one to two weeks have started to clear, while a more optimistic AI narrative has returned in stages. On that basis, CITIC Securities said it sees the possibility of a rebound in U.S. technology stocks after the midterm elections and recommended semiconductor hardware as the primary direction.
The report was attributed to Jin10.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
