Overview
- Stocks fell for a fourth session worldwide, with the MSCI All Country World Index near a one-month low as investors rotated out of risk assets.
- The S&P 500 and Nasdaq closed below their 50-day moving averages for the first time since late April, signaling weakening momentum and deteriorating market breadth.
- Rate-cut expectations softened, with CME FedWatch showing roughly a 40%–46% chance of a December Federal Reserve cut as the U.S. 10-year Treasury yield eased to about 4.13%.
- Two closely watched catalysts are in focus this week: Nvidia reports results on Wednesday and the delayed September U.S. nonfarm payrolls arrive on Thursday.
- Skepticism about AI spending and valuations weighed on tech and crypto, with bitcoin hovering just below $92,000 after a roughly 25% drop from its October peak, and filings showed Peter Thiel’s fund exited Nvidia after SoftBank’s earlier sale.