Based on my 55 years of watching the market, I'm deeply concerned that we're in the early stages of a financial crisis that could be larger than the Great Financial Crisis of 2008.

This has very little to do with the national debt, as bad as that is.

Nor is it another debt crisis in the housing market like the one that tanked the markets in 2008.

In fact, it doesn't even involve the "AI bubble" or the high-flying stock market, although major, widely held stocks will almost certainly be among the first to crash.

No, this is something far worse, and even more dangerous.

I'm Dr. Martin D. Weiss, New York Times best-selling author, named "Mr. Independence" by Forbesand founder of Weiss Ratings, rated #1 in the Wall Street Journal.

Why #1? Because for 55 years, I have run Weiss Ratings as the nation's only 100% conflict-free, independent financial rating agency in America.

We have never accepted a dime from rated companies for the grades we issue, and we never will. We answer to no one but our members.

Since 1971, when I founded this company, I have publicly predicted six major American crashes before they happened, always naming the companies most likely to fail with ample warning.

And today I'm issuing a public warning about what could be the biggest crisis to ever hit America.

In previous financial crises, many have lost half, or even most of their retirement savings.

My job — and my family's job for nearly one hundred years — has been to give Americans the warning before the warning is too late.

And that's what I'm doing in a free video you can watch today.

Wall Street began November with a sharp split. The Nasdaq fell 1.07% on Monday. The S&P 500 lost 0.51%, while the Dow gained 214 points. Yet nearly 70% of S&P 500 stocks rose.

Big Tech pulled the main indexes down, but buyers kept moving into other parts of the market. Oil gave stocks some help. Brent crude plunged 7.6% as hopes for talks between the U.S. and Iran grew. Airlines and other firms that spend heavily on fuel rose.

Then Apple and Palantir beat earnings forecasts after the bell. The economy also showed fresh strength. U.S. factory growth hit 55.5 in October, its best pace in months. Now Wall Street faces the U.S. midterm elections and Friday's jobs report.

Monday, November 2

Three forces shaped Monday's market. Big Tech remained under pressure after last week's sharp selloff. Nvidia and Alphabet fell, pulling the Nasdaq lower. Oil prices plunged as hopes for talks with Iran eased supply fears. That helped lift airlines, travel firms, and other stocks outside tech.

Fresh factory data also beat forecasts. U.S. firms made more goods and received more orders in October. The result was a mixed day. The largest tech stocks fell, but most S&P 500 stocks rose. Then Apple and Palantir gave investors fresh earnings to study.

Monday's market looked weaker than it was. The Nasdaq lost 1.07%, while the Dow gained 0.41%. Nearly 7 in 10 S&P 500 stocks closed higher. That split matters. The largest tech firms make up a big share of the Nasdaq and S&P 500. When they fall, they can pull the indexes down even if most stocks rise.

Nvidia lost about 1.3% on Monday. Alphabet fell roughly 0.3%. The losses followed a tough week for tech. Google, Amazon, and Intel had all faced heavy selling. Investors are worried about the cost of AI. Firms are spending billions on chips, servers, and data centers.

Those projects may lead to more sales. But buyers want proof that the new costs will bring in more cash. Monday showed that those fears remain. It also showed that buyers are still active outside Big Tech.

Oil was one of Monday's biggest stories. Brent crude fell 7.6% to $104.77 a barrel. U.S. crude dropped below $100. The decline came as reports raised hopes for new talks between the U.S. and Iran. Lower oil prices can help firms across the economy.

Airlines pay less for jet fuel. Trucking firms spend less to move goods. Stores may face lower shipping costs. Families can also gain if lower crude prices lead to cheaper gas. That matters for inflation. High oil prices can raise costs for firms and shoppers. A lasting drop could help the Fed bring price growth closer to its 2% goal. But crude remains expensive. Fresh trouble in the Middle East could push prices higher again. For now, lower oil gave Wall Street some relief.

Apple reported strong earnings after Monday's close. Sales rose to $114.48 billion, beating Wall Street's forecast of $113.39 billion. Profit reached $2.10 per share, above estimates of $1.99. iPhone sales climbed to $57.58 billion, helped by demand for the new iPhone 18 Pro models.

Apple also reported a profit margin of 47.9%. Its shares rose about 0.8% in early trading after the close. The results show that consumers are still buying costly phones, even as prices remain high.

Apple is also facing higher chip costs and more spending on AI tools. Investors will watch whether strong iPhone demand can help cover those costs. For now, Apple gave Wall Street a clear earnings beat after a tough week for tech.

Palantir also beat forecasts after Monday's closing bell. Sales surged 96% to $2.31 billion, above Wall Street's forecast of $2.18 billion. Its U.S. business sales rose even faster. Sales to U.S. firms jumped 148% to $984 million. For the first time, that was more than Palantir earned from U.S. government clients.

The firm also raised its full-year sales forecast to about $8.53 billion. Its shares gained about 1.4% after hours. The results show that firms are still spending heavily on AI tools that help them use their data. But fast sales growth does not always make a stock cheap.

Investors still need to weigh future profits against the price they pay today. Palantir gave buyers proof of strong demand. The next test is whether that growth can keep pace with high hopes.

Monday brought fresh signs of strength in the U.S. economy. The ISM factory index rose to 55.5 in October, up from 54.5 in September. Readings above 50 mean factory activity is growing. New orders rose, and production reached its highest level in nearly 5 years.

That points to stronger demand for U.S. goods. But the price data told a less welcome story. The factory price index fell to 75.2 from 77.9. That means prices were still rising, though at a slower pace. Strong factory growth can help jobs and company sales.

But high costs may keep pressure on the Fed to hold interest rates steady. The economy is still growing. The fight against inflation is not over.

Americans vote in the midterm elections on Tuesday, November 3. The results will decide which party controls the House and Senate. That could shape taxes, federal spending, trade rules, and energy policy. Markets may react as results become clear.

Investors will also watch new earnings from AMD and other major firms. Then comes Friday's October jobs report. It will show how many jobs were added and whether the job market is slowing. Strong hiring could give the Fed more reason to keep rates high. Weak hiring could raise fresh fears about growth. Both events could move stocks and bonds.

Monday showed that the stock market is not moving as one. The Nasdaq fell, but nearly 70% of S&P 500 stocks rose. The Dow gained, and lower oil helped many firms. Apple and Palantir also posted strong earnings after the bell. Those are good signs for a market that faced heavy selling in tech last week.

But the risks remain. Big Tech must show that its AI spending can lead to stronger profits and more cash. The Fed still needs proof that inflation is cooling. Factory data showed strong growth, but prices were still rising. Tuesday's elections and Friday's jobs report add more tests.

If profits stay strong and oil keeps falling, stocks could find new buyers. But if tech costs rise, inflation stays high, or jobs weaken, the market could face more selling.

The lesson is simple: A weak Nasdaq does not mean the whole market is weak. Monday showed that buyers are still finding stocks they want to own. Apple and Palantir gave them fresh reasons to buy. Lower oil helped firms outside tech.

Now Wall Street must find out whether those gains can last as voters head to the polls and new jobs data arrive. The next move will depend on company profits, the cost of fuel, and what the Fed sees in the economy.