HSBC's Kettner Says Market Stress Is Technical, Not Fundamental

HSBC chief multi-asset strategist Max Kettner told Bloomberg on October 19, 2026 that recent market stress is mostly technical: "It is an incredibly technically-driven market." By technical, he means positioning (how investors' bets are set up) and forced selling, not weaker earnings or growth. Such moves can reverse once positioning clears, but the interview gives no timeline.