Overview
- U.S. markets fell for a fourth session on Tuesday, with the Dow down 1.07%, the S&P 500 off 0.82% and the Nasdaq lower by 1.21% as the VIX jumped about 10%.
- Nvidia dropped roughly 2.8% ahead of its Wednesday after‑the‑bell earnings, while Microsoft and Amazon also slid as doubts over rich AI valuations pressured megacaps.
- Expectations for a December Federal Reserve rate cut have eased following cautious comments from officials, keeping policy uncertainty elevated.
- The Bureau of Labor Statistics will release the postponed September employment report on Thursday, a key data point following the government shutdown.
- Repositioning added to the risk‑off tone as Peter Thiel’s fund exited Nvidia and SoftBank disclosed a large sale, Home Depot missed and cut guidance, global indices weakened, and Bitcoin briefly fell below $90,000.