21st November 2025 – Tech Stocks smashed as Investors dig deeper into Nvidia results

The MPC Morning Call this morning, centers on a significant downturn in tech stocks despite strong earnings reports from companies like Nvidia. The episode discusses questions around the quality of Nvidia's revenue, technical market levels being breached, and the broader theme of market deleveraging. The host emphasizes caution amid increasing volatility and advises high cash holdings to capitalize on opportunities if markets fall further. Commodities and cryptocurrencies also experienced a broad sell-off, reinforcing a cautious market sentiment.• Tech stocks, including Nvidia, suffered sharp declines despite positive earnings, attributed partly to concerns about the legitimacy and sustainability of reported revenues.• Market technicals are under pressure, with major indices breaking key moving average levels, signaling possible further downside.• Deleveraging is highlighted as a key driver of recent moves, with margin calls and forced selling exacerbating volatility across asset classes.• Commodities like gold, silver, copper, and cryptocurrencies also fell, supporting the case for a broader risk-off shift in markets.• The recommendation is to hold higher cash levels, review portfolios critically, and prepare a watchlist for buying opportunities if the downturn accelerates.