🚨U.S. markets could face MORE TURBULENCE next week. The Nasdaq 100 has lost more than $2 TRILLION across October as concerns over AI spending intensify. Volatility surged on Friday: VIX rose 12.9% to 19.42, while VXN jumped 13.2% to 28.50. Options markets are pricing in larger swings over the next month. Markets face pressure from several directions: - The November 3 election will determine control of Congress, with implications for the administration’s tax, spending and regulatory agenda. - U.S. crude settled at $104.12 amid concerns over further escalation involving Iran. Higher energy prices threaten to prolong inflation and complicate rate cuts. - Big Tech’s rising infrastructure budgets are intensifying concerns over returns and financing needs. The Nasdaq Composite fell 2.9% on Friday, while Intel plunged 28.6%. Election results, oil prices and Treasury yields could determine whether stocks stabilize, or face another wave of selling.