ETFs: „AI Skepticism and the Brazil Sell-Off“

Sentiment toward AI stocks has deteriorated—and even Anthropic’s upcoming IPO isn’t likely to change that much. In addition, Brazilian stocks are on the sell list following the runoff election.October 27, 2026. FRANKFURT (Deutsche Börse). Despite Anthropic’s now firmly scheduled IPO, the Nasdaq tech index is still 7 percent below its record high. The price declines are also making themselves felt in the ETF market, at least in the form of buying reluctance. “Overall, equity ETF purchases are outpacing sales for us, but when it comes to U.S. and technology stocks, purchases and sales are balanced,” reports Frank Mohr of Société Générale. Another topic this week is Brazil. In Sunday’s runoff election, President Lula da Silva won in a surprise victory, while right-wing conservative Flávio Bolsonaro lost. Brazil’s stock market plummeted by more than 20 percent. “We first saw a lot of selling of Brazil ETFs, but then buying picked up again,” reports Michael Norizin of Lang & Schwarz. High-volume trades: the Xtrackers MSCI Brazil ( ), the Franklin FTSE Brazil ( ), and the Amundi MSCI EM Latin America ETF ( ). All three saw significant declines. European Stocks See Higher Trading VolumeAs for U.S. stocks, Mohr reports inflows into the Vanguard S&P 500 ( ) but outflows from the State Street SPDR S&P 500 ( ). There is clear buying interest in global stocks. Examples include the Vanguard FTSE All-World ( ) and the iShares Core MSCI World ( ). Société Générale clients are also showing interest in the VanEck Morningstar Developed Markets Dividend Leaders ( ).ETFs offering exposure to European stocks are seeing higher-than-usual trading volumes. “Europe and the eurozone together account for about 20 percent of trading volume—that’s a lot,” notes Mohr. He sees a clear buying bias for the iShares Core MSCI Europe ( ) and the Amundi Core Stoxx Europe 600 ( ), while the eurozone index, the iShares Core MSCI EMU ( ), is seeing more selling. Tech Stocks: “Professionals Are More Likely to Sell”Caution toward tech stocks is also evident in trading in sector ETFs. According to Mohr, the Xtrackers Artificial Intelligence & Big Data ( ) is still on buyers’ lists, while the iShares S&P 500 Information Technology ( ) is on sellers’ lists. Lang & Schwarz’s retail clients are mostly still buying the iShares ETF, as well as the VanEck Semiconductor ( ). “Professional investors, however, tend to sell,” notes Norizin.According to Mohr, the sector with the highest trading volume is healthcare—with strong inflows into ETFs such as the Amundi MSCI World Health Care ( ) and the Xtrackers MSCI World Health Care ( ). These have recently posted strong gains, with a 17 percent increase since the start of the year. Banking ETFs ( ) are generally being sold off. Leveraged Oil ETCs: Price Quadrupled Since JulyIn bond ETF trading, government bonds are currently being sold off, as Mohr also reports. CLO ETFs such as the Invesco EUR AAA CLO ( ) are also being sold.The renewed rise in oil prices is also driving significant trading volume in oil ETNs. Among Lang & Schwarz’s trading-savvy clientele, there is strong interest in WisdomTree ETNs with 3x leverage, such as the WisdomTree Brent Crude Oil 3x Daily Leveraged ( ). Its price has nearly quadrupled since July.Norizin is also seeing strong trading volume in crypto ETNs. “This applies primarily to Bitcoin and Ethereum, but also to smaller coins like the CoinShares Hyperliquid Staking ( ).” Bitcoin has just fallen back below the $80,000 mark. ◄Previous►Next By Anna-Maria Borse, October 27, 2026, © Deutsche Börse AG Anna-Maria Borse is a finance and business editor specializing in financial markets, the stock market, and economic issues.Feedback and questions to live@deutsche-boerse.com

ETFs: „AI Skepticism and the Brazil Sell-Off“

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