Payne's Perspective: It's Not Over
10/19/2026
The Public Fear Campaign & Repositioning Misinformation, exaggeration, and media lies, coupled with mounting anxiety, sparked a series of sell-offs in the superintelligence/artificial intelligence (SI/AI) universe that closely mirrors DeepSeek's debut and the history written by the same culprits.
Early in the week, several stories, from Chinese memory company CXMT derailing the Big Three memory players to CRWV becoming the poster child of the semiconductor buildout, didn’t move the broader market much. By the weekend, panic spread. Value sectors led by Consumer Staples (XLP) rallied, while growth sectors led by Technology (XLK) stumbled badly.
Bear Market For weeks, I have been saying this is a de facto bear market. Last week's new lows corroborate that. We can quibble, but 80% of the market is down more than 10%, and 40% is down more than 20%.
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Charles Payne
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