Stocks logged their worst day in a month with the S&P 500 down 1.7%, the Dow off about 798 points, and the Nasdaq lower by 2.3%, according to closing data. High-flying AI names led declines as investors questioned stretched valuations and the pace of data-center spending, with Nvidia and Broadcom among notable laggards. Rate-cut expectations receded sharply, with CME futures showing sub‑50% odds for a December move, after recent Fed commentary highlighted caution. Volatility and technical signals turned negative as the VIX jumped roughly 20% intraday, the Nasdaq dipped below its 50‑day moving average, Treasury yields edged up near 4.11% on the 10‑year, and crypto and gold fell. The federal shutdown ended with a continuing resolution signed Wednesday, yet uncertainty lingers because key October reports on jobs and inflation were delayed and officials signaled some data may not be published.
