TechFlame News — According to a Jinshi report, the stock market—particularly tech stocks—has been showing signs of jitters lately. However, HSBC’s multi-asset strategists believe now is the time to buy. HSBC points out that although the S&P 500 is less than 5% away from its all-time high, market sentiment and positioning have clearly taken a hit. Additionally, high-yield bond spreads have widened by less than 30 basis points since October, while emerging market bond spreads continue to narrow, making the market behavior over the past few weeks somewhat unusual. They note that the VIX futures curve has entered backwardation—a rare occurrence—indicating that traders perceive greater short-term uncertainty compared to the longer term. Much of this is attributed to concerns about the most speculative segments of the market. Even so, current bottom-up consensus expectations suggest that the S&P 500’s net profit, excluding the tech sector, will decline by 8% quarter-on-quarter. They state, “Such low expectations actually set a lower bar for the Q4 2026 earnings season, while the Fed’s rate cut in December should help ease tensions and improve market sentiment.” HSBC concludes, “This provides a favorable environment to increase, rather than reduce, risk exposure.”