Overview
- The S&P 500 and Dow each fell 1.7% while the Nasdaq dropped 2.3%, marking one of the weakest sessions since the spring sell-off.
- Nvidia led losses across AI-linked large caps, trading near $184 and slipping below its 50-day moving average as Broadcom, Tesla, Palantir and Alphabet also declined.
- The Nasdaq index broke beneath its 50-day moving average intraday, a closely watched technical breach for the tech-heavy benchmark.
- Wall Street’s VIX rose by nearly 20% intraday, signaling a sharp uptick in expected near-term volatility.
- CME data showed the implied odds of a December Fed rate cut falling from roughly 63% to below 50%, while Bitcoin dropped back under $100,000 and gold weakened in a broader risk-off move.