Overview
- U.S. stocks fell with the S&P 500 and Nasdaq closing below their 50‑day moving averages for the first time since late April, while the VIX jumped.
- Market-implied odds of a December Federal Reserve rate cut have dropped to roughly 40%–46%, down sharply from over 90% a month ago.
- Losses spread worldwide as Tokyo and Seoul dropped around 3% and European benchmarks hit one‑week lows, reflecting a tech‑led risk‑off tone.
- Bitcoin slid to roughly $90,000–$92,000, erasing its year‑to‑date gains and pressuring crypto‑linked stocks such as Coinbase.
- Investors are fixated on two near‑term catalysts: Nvidia’s earnings due Wednesday and the long‑delayed U.S. September jobs report set for Thursday; Home Depot added to caution with profit below estimates and a lowered adjusted earnings outlook.