US Stocks Fall Sharply on Thursday
2025-11-06 21:02
By
Felipe Alarcon
1 min. read
US stocks fell sharply on Thursday, with the S&P 500 down 1%, the Nasdaq off 1.7%, and the Dow Jones slipping 317 points as renewed pressure on AI-linked and tech shares weighed on Wall Street.
Concerns over lofty AI valuations resurfaced after mixed earnings, dragging Qualcomm 4.5% lower, Tesla 2.8% ahead of its shareholder meeting, and AMD 7%.
Oracle and Palantir sank 2.6% and 6.8%, while megacaps Nvidia (-3.8%), Microsoft (-1.8%), Amazon (-2.3%), and Meta (-2.7%) also tumbled.
Fears of a deeper labor-market cooling compounded the tech-led slide, after Challenger reported 153,000 announced job cuts in October, the highest for that month in 22 years, much of it tied to AI integration and cost optimization.
With the government shutdown limiting official releases, investors relied on private indicators that painted a weaker picture of the economy, adding to risk aversion.