Tech and AI stocks stalled in Q3 as valuations fell, JPMorgan says

Broad tech and AI stocks stalled through Q3 after a derating, JPMorgan strategist Mislav said, according to a Sept. 28 MarketWatch report. Derating means investors pay less for each dollar of expected profit. For index-fund savers, that can drag returns even if earnings hold. I’m skeptical this clears quickly while crowding stays high.