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1h ago

Risk-Off Grips Markets as Tech Valuations Face Scrutiny, Bitcoin Slides, and Brazil Weighs Banco Master Fallout

Caution prevails as investors await Nvidia’s results plus the Fed minutes, with reduced odds of a December rate cut curbing risk-taking.

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Overview

  • U.S. and European stocks extended losses on Tuesday, led by technology shares, as investors questioned AI-driven earnings strength and grew wary of rising big-tech leverage following fresh bond sales.
  • Bitcoin fell below US$90,000 on Tuesday for the first time in seven months, leaving it roughly 25–30% below its October record, alongside notable November outflows from spot crypto ETFs reported around US$2.33 billion.
  • Traders positioned for key catalysts, with Nvidia’s quarterly results due after today’s close and the Fed’s October meeting minutes set for release, followed by U.S. payroll data on Thursday.
  • Brazil’s central bank decreed the extrajudicial liquidation of Banco Master and the Federal Police arrested founder Daniel Vorcaro, as the credit-guarantee fund FGC moved to cover R$41 billion for affected investors.
  • Brazilian bank shares fell and the Ibovespa slipped 0.3% on Tuesday, though broader spillovers were limited, while the dollar eased 0.26% to R$5.318 as global FX traded near steady levels.