UK Investors Buy Tech Dip as Nasdaq Enters Correction
- Nasdaq index has entered correction territory after a 10% decline.
- UK investors are targeting AI-focused companies including Nvidia and SpaceX.
- Nvidia shares fell 4.8% on Monday amid an investigation into CEO Jensen Huang.
- Retail investors showed aggressive buying of tech stocks during last week's market rout.
- US Treasury auctions and upcoming GDP data remain key focuses for investors this week.
The Nasdaq index has entered correction territory, defined as a decline of 10% or more from its recent high, as retail investors move to purchase tech shares during the market dip. Despite this, the Nasdaq-100 index rose 1.35% on Friday.
UK investors have been purchasing tech shares including SpaceX, Nvidia, Micron, Intel, and Alphabet during the decline. Nvidia was the most actively traded stock last week, with its share price falling as much as 25% from its all-time high. SpaceX was the second most traded stock last week, rallying 8% on Friday due to strong retail flows.
ARK Invest has been using the correction to increase its exposure to Tesla and SpaceX. Tesla stock has fallen more than 10% over the past week, though Cathie Wood stated that the company's Robotaxi has hit "escape velocity". Microsoft, Alphabet, and Meta shares rose between 1.5% and 1.8%.
UK portfolio holdings shift toward AI-focused tech shares
UK investors' portfolio holdings include Standard Life at 5.85%, SpaceX at 3.30%, Nvidia at 2.99%, Alphabet Class A at 2.54%, NatWest at 2.39%, Lloyds at 2.24%, Alphabet Class C at 1.97%, Intel at 1.62%, Micron Technology at 1.60%, and Rolls-Royce at 1.34%. Both Nvidia and SpaceX recorded buy ratios of over 70% last week.
Micron, AMD, Intel, and Alphabet experienced buying activity levels similar to Nvidia and SpaceX. Meta ranked 27th among the most traded stocks with a 72% buy ratio. Apple ranked 21st among the most traded stocks with a 36% buy ratio as investors booked profits.
Four ETFs appeared in the top 20 most traded assets, indicating that investors were using market weakness to add to long-term positions.
Nvidia CEO investigation unsettles semiconductor market
Global stocks rose on November 9, recovering from the previous week's tech-led rout, though a 4–4.5% pre-market slide in Nvidia shares due to the investigation unsettled sentiment. Neil Wilson, UK investor strategist at Saxo, said: "Markets are trying to figure out what this means for arguably the world's most important company right now".
US stock futures rose on Monday, 9 November 2026, as bargain hunters entered the market following a steep fall in equities last week. ET on Monday.
Microsoft, Alphabet, and Meta shares rose between 1.5% and 1.8% in premarket trading on Monday.
Oil prices fell between 1–1.5% on November 9 as President Trump downplayed the likelihood of further military strikes on Iran, helping to ease geopolitical risk.
Market benchmarks record worst performance since April 2025
The S&P 500 experienced its worst weekly performance since April 2025. On Thursday, November 5, 2026, the S&P 500 closed at 7,354.
The Nasdaq Composite fell 5.5% on Thursday, marking its worst daily performance since the April 2025 selloff.
Semiconductor stocks recorded significant declines, with the SOXX index falling 12% and Nvidia shares dropping 9%.
Markets saw a major capitulation on Thursday followed by a rebound on Friday. Despite this, retail flows returned to net buying by the close of the session on Thursday.
European shares rallied on November 9 as bank stocks rose following Credit Agricole's proposal to merge its Italian subsidiary with Banco BPM. Taiwan's benchmark stock index rose almost 5% on November 9 after its steepest weekly drop in two decades.
Investors pivot to bonds and bank loans amid market volatility
Investors have been buying the bond dip for seven consecutive weeks, with long-term bond funds receiving 0.64% of assets in the week ending November 4. Bank loans saw inflows of 0.42%, government bonds 0.38%, and high-yield funds 0.32%, while emerging market bond funds experienced outflows of 0.79%.
The 10-year US Treasury yield was 4.84% on November 9, as lower oil prices helped reduce government borrowing costs. The equal weight S&P 500 is trading near an all-time high following a 5% increase in October.
KKR shares rose 3.7% ahead of its earnings report on Monday, while Constellation Energy shares remained flat.
US Treasury auctions scheduled for this week include a $58bn 3-year note on Monday, a $42bn 10-year note on Tuesday, and a $25bn 30-year bond on Thursday. The US bond market will be closed on Wednesday for Veterans Day, though the stock market will remain open.
UK economists forecast that September monthly GDP will decline by 0.1% month-on-month, while Q3 GDP is expected to grow by 0.7% quarter-on-quarter. Bloomberg consensus estimates for US October CPI indicate a 0.3% monthly increase for headline inflation and a 0.2% monthly increase for core inflation.
Healthcare sector earnings and pipeline developments
Healthcare stocks demonstrated resilience compared to broader market benchmarks last week.
The company recently reached an agreement with Eli Lilly allowing patients to access Zepbound and the obesity pill Foundayo at self-pay prices.
TG Therapeutics reports earnings on Monday, focusing on Briumvi sales and an under-the-skin formulation expected to yield Phase 3 results by late 2026 or early 2027. In August, the company raised its 2026 US Briumvi revenue target to $890 million to $905 million, following second-quarter US net product revenue of $227.7 million.
The company reported quarter-end cash of $396.1 million and has ceased promoting Yutrepia for pulmonary hypertension associated with interstitial lung disease, though the drug remains available for pulmonary arterial hypertension.
Summit Therapeutics faces an FDA target date this Saturday for Ivonescimab plus chemotherapy, following mixed results from the HARMONi trial where the primary overall-survival analysis missed statistical significance. Scholar Rock reports results on Tuesday before the market opens, focusing on the early rollout of Isembyld, which received FDA approval in September for spinal muscular atrophy.
Ascendis Pharma reports on Thursday, following second-quarter product revenue that more than doubled to 315 million euros, driven by Yorvipath, Skytrofa, and Yuviwel. Teva Pharmaceutical Industries will hold an R&D Day on Wednesday in New York to discuss its drug pipeline and growth strategy for the next five years.
Economic data and the longevity of the AI boom
Traders are pricing in an approximately 80% chance of a quarter-point Federal Reserve rate hike in December, following a jobs report that showed US employers added 165,000 jobs in October.
The ISM manufacturing index for October rose by one point to 55.5, the highest level since July, with production reaching its highest point since November 2021. S&P Global’s final manufacturing PMI for October was 54.9, marking the fifteenth consecutive month it has remained above the 50.0 no-change threshold. September factory orders increased by 1.8%, the highest growth since April, with orders excluding transportation rising by 1.3%.
Bitcoin rose 0.7% to $74,559 on November 9, having previously touched its lowest level in over two months due to concerns regarding potential US congressional regulation of digital assets.
- Stock market correction: what have UK investors been buying in the past week? (uk.finance.yahoo.com)
- The Week Ahead – CPI and Equity Flows Test a Shaken Market (pro.thestreet.com)
- Stock markets tumbled last week: these were the most popular stocks & ETFs Saxo clients were buying (home.saxo)
- HIMS, TGTX, SMMT, LQDA: 8 Biotech Stock Catalysts To Watch This Week (stocktwits.com)
- Stocks Edge Up, Nvidia Woes Linger — JournalArta Global (journalarta.com)
- Asian stocks steady as AI, Mideast jitters recede; dollar firm on (globalbankingandfinance.com)
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