Overview
- The Dow fell about 550 points on Nov. 17, while the S&P 500 and Nasdaq closed below their 50-day moving averages as volatility jumped to fear levels.
- Traders now price only about a 40%–46% chance of a December rate cut, according to CME FedWatch, a sharp retreat from near 90% a month ago.
- Losses spread to Asia and Europe, with regional indexes tracking Wall Street lower and suggesting a continued risk-off tone.
- Nvidia reports earnings on Nov. 19 and the delayed U.S. September jobs report lands on Nov. 20, two catalysts investors say could sway near-term direction.
- Bitcoin hovered just below roughly $92,000, erasing 2025 gains, as investors rotated out of high-flying tech into relatively cheaper, defensive areas.