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Global Selloff Deepens as Tech Repricing and Fading Fed Cut Bets Hit Stocks

Fading confidence in AI-heavy shares coupled with lower odds of a December Fed cut is forcing investors to de-risk.

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.