[Analysis: A Hidden Bear Market is Unfolding in US Stocks; 75% of Tech Stocks Have Entered Bear Market Phase] According to Odaily Planet Daily, The Kobeissi Letter, published on the X platform, stated that the Nasdaq 100 index lost approximately $4 trillion in market capitalization in 25 days, and AI stocks fell by more than 13% in October, while the S&P 500 index, excluding AI stocks, rose 8% during the same period and hit a record high on Friday. Currently, the S&P 500 index is only 3.5% away from its all-time high, but approximately 58% of its components are down at least 20% from their respective highs, and 75% of tech stocks have entered bear market phase. Within the information technology sector, 91% of stocks are down at least 10% from their highs. The Kobeissi Letter believes that the current selling pressure is mainly concentrated in technology-related stocks. Most investors, due to their heavy holdings in tech stocks, are actually experiencing market pressure far exceeding the levels reflected by major indices. It also pointed out that the record-breaking capital expenditures by companies for the AI technology revolution, as well as the normal market correction, may lay the foundation for the next round of growth, and expects the market to still face significant volatility in November.