Fundstrat’s Tom Lee recommended buying AI stocks after the sell-off in a video update on Friday, predicting that the Nasdaq would rebound 15%. The Nasdaq 100 fell 6.36% on Thursday, wiping out $2.3 trillion in market value. Jack Caffrey, an equity portfolio manager at JPMorgan Asset Management, called the decline a normal correction and noted that companies’ order backlogs could sustain them for 12 to 24 months. However, stronger-than-expected job growth reported on Friday for October boosted market expectations of a Federal Reserve rate hike in December, challenging Lee’s argument that pressure from tighter monetary policy had eased.