CNBC Daily Open: Don't hit panic button on tech pullback just yet

November is historically the champion month for the S&P 500, which gains an mean of 1.8% during the period, according to the Stock Trader's Almanac.

But the archetypal afloat trading week of the period saw stocks caught successful November rains.

The S&P 500 and Dow Jones Industrial Average each mislaid much than 1%, portion the Nasdaq Composite shed astir 3% — that's its largest play nonaccomplishment since the tech-heavy scale slumped 10% successful the week ended April 4.

A fewer months ago, tariffs were the shadows that stalked stocks. Now, it's fears that artificial intelligence-related stocks are trading astatine prices disconnected from what the firms are really worth.

"You've got trillions of dollars tied up successful 7 stocks, for example. So, it's inevitable, with that benignant of concentration, that determination volition beryllium a interest about, 'You know, erstwhile volition this bubble burst?'" CEO of DBS, Southeast Asia's largest bank, Tan Su Shan told CNBC.

Goldman Sachs' CEO David Solomon besides thinks choppy waters mightiness beryllium ahead.

"It's apt there'll beryllium a 10 to 20% drawdown successful equity markets sometime successful the adjacent 12 to 24 months," Solomon said Tuesday astatine the Global Financial Leaders' Investment Summit successful Hong Kong.

That said, a pullback isn't needfully atrocious for stocks. It could adjacent contiguous "buying opportunities" for investors, according to Glen Smith, main concern serviceman astatine GDS Wealth Management.

After all, net person been "reassuring" contempt worries astir tech stocks' precocious valuations, Kiran Ganesh, multi-asset strategist astatine UBS, told CNBC. That means the rainfall mightiness not past and the rally could find a mode to tally a small longer.

— CNBC's Lee Ying Shan, Hugh Leask and Lim Hui Jie contributed to this report.

Major U.S. scale were mixed. The Nasdaq Composite closed 0.21% lower Friday stateside, but U.S. futures roseate Sunday evening. Asia-Pacific markets were up Monday, with South Korea's Kospi popping much than 3% arsenic of 2 p.m. Singapore clip (1 a.m. ET).

China rolls backmost curbs connected uncommon earths. Beijing said Friday that it would suspend immoderate restrictions connected exports of uncommon world elements. The determination follows talks betwixt U.S. President Donald Trump and his Chinese counterpart Xi Jinping connected Oct. 30.

Nexperia impasse shows signs of easing. The Chinese Commerce Ministry said in a statement Sunday that it had taken steps to let exports of definite chips from Nexperia's China facility. Shares of Nexperia genitor Wingtech Technology climbed Monday.

U.S. authorities connected way to extremity shutdown. The Senate connected Sunday nighttime stateside passed the archetypal signifier of a deal that would extremity the shutdown. The procedural measurement allows different votes indispensable to the statement to beryllium held starting connected Monday.

[PRO] Chinese sectors benefiting from AI. Earnings play successful the state is underway, and portion it's spotlighting immoderate AI-related sectors that person seen growth of up to 57%, others are facing a diminution due to the fact that of fierce terms competition.

A planetary wealthiness roar is fueling a emergence successful household bureau imposters

Fundraisers and fraudsters are presenting themselves arsenic household bureau representatives, seeking to dupe gullible investors — and past determination are besides imposters who are successful it conscionable for an "ego boost," respective manufacture veterans told CNBC.

An accusation vacuum seems to person encouraged imposters. In galore markets, genuine azygous household offices, oregon SFOs, are exempt from registering truthful agelong arsenic they negociate lone household money. That privateness norm often makes verification hard, said manufacture experts.

— Lee Ying Shan