CNBC Daily Open: Too early to fret about tech pullback?

Market Performance - The S&P 500 and Dow Jones Industrial Average each lost more than 1%, while the Nasdaq Composite shed around 3%, marking its largest weekly loss since a 10% decline in early April [2] - November is historically the best month for the S&P 500, with an average gain of 1.8% [1] Investor Sentiment - Concerns are rising regarding the high valuations of artificial intelligence-related stocks, which are perceived to be trading at prices disconnected from their actual worth [2] - There is a significant concentration of investment in a few stocks, leading to worries about a potential market bubble [3] Market Outlook - Goldman Sachs' CEO predicts a potential 10 to 20% drawdown in equity markets within the next 12 to 24 months, although such a pullback could present buying opportunities for investors [4] - Despite concerns over tech stock valuations, earnings have been described as "reassuring," suggesting that the current market downturn may not last long [5]