US Stocks Fall Sharply
2025-11-04 14:39
By
Joana Taborda
1 min. read
US stocks were sharply lower on Tuesday, with the S&P 500 down 1%, the Nasdaq falling 1.5%, and Dow Jones slipping 200 points, as the recent AI-driven rally showed signs of fatigue and investors digested a fresh batch of corporate earnings.
Adding to the cautious mood, several Wall Street chief executives including those from Morgan Stanley and Goldman Sachs, warned at a summit in Hong Kong that markets may be due for a significant correction.
Meanwhile, traders readjust their Fed rate cut bets for December, following a series of mixed comments from Fed officials.
Tech, energy and industrials were the worst performing sectors while consumer staples managed to stay in the green.
Palantir Technologies tumbled nearly 10% on valuation concerns, despite beating quarterly estimates and raising its full-year revenue outlook.
Also, Nvidia fell 2.7% and Tesla declined 4.2%.
AMD was also down 3.6% ahead of tis earnings release after the closing bell