On November 6, Shane Oliver, Chief Economist and Head of Investment Strategy at AMP, said investors are assessing the potential impact of a Democratic victory in the midterm elections, though the specific consequences remain unclear. Market volatility reflects concerns that technology stocks and AI-related trades are overvalued, leaving the relevant assets more vulnerable to shocks. Such concerns have been building for some time, and the midterm elections may merely serve as the trigger for a pullback. Oliver noted that it is too early to judge whether the market has bottomed out; as long as the economic outlook remains unaffected, this decline is more likely to be a market correction rather than a bear market.