US stocks fell sharply Thursday as renewed worries over Big Tech and weak job data rattled markets, driving a flight to bonds.
The Nasdaq (IXIC) dropped nearly 2%, the S&P 500 (GSPC) fell 1.1%, and the Dow (DJI) lost about 400 points. A report from Challenger, Gray & Christmas showed October was the worst month for layoff announcements since 2003, pushing the 10-year Treasury yield (TNX) below 4.1%.
Tech stocks led declines. Qualcomm (QCOM) fell over 4% despite strong earnings, while Nvidia (NVDA) and AMD (AMD) slid after AI czar David Sacks said there would be “no federal bailout” for the AI industry.
Tesla (TSLA) shares dropped 3.5% ahead of a shareholder vote on Elon Musk’s trillion-dollar pay package, fueling concerns he could step down if it’s rejected.
Markets also reacted to Supreme Court skepticism over Trump’s trade tariffs, which could have major trade implications. Earnings from Warner Bros. Discovery (WBD), Airbnb (ABNB), and Moderna (MRNA) were key highlights of the day.OEXN: Stocks slide as Nvidia drags AI sector down and renewed jobs worries hit Wall Street
US stocks fell sharply Thursday as renewed worries over Big Tech and weak job data rattled markets, driving a flight to bonds.
The Nasdaq (IXIC) dropped nearly 2%, the S&P 500 (GSPC) fell 1.1%, and the Dow (DJI) lost about 400 points. A report from Challenger, Gray & Christmas showed October was the worst month for layoff announcements since 2003, pushing the 10-year Treasury yield (TNX) below 4.1%.
Tech stocks led declines. Qualcomm (QCOM) fell over 4% despite strong earnings, while Nvidia (NVDA) and AMD (AMD) slid after AI czar David Sacks said there would be “no federal bailout” for the AI industry.
Tesla (TSLA) shares dropped 3.5% ahead of a shareholder vote on Elon Musk’s trillion-dollar pay package, fueling concerns he could step down if it’s rejected.
Markets also reacted to Supreme Court skepticism over Trump’s trade tariffs, which could have major trade implications. Earnings from Warner Bros. Discovery (WBD), Airbnb (ABNB), and Moderna (MRNA) were key highlights of the day.Publication date:
2025-11-10 10:36:29 (GMT)
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