Overview
- Global equity benchmarks fell Tuesday across Europe, Asia and the U.S. as profit-taking erased part of recent AI-fueled gains.
- Expectations for a December rate cut faded after Federal Reserve signals that further easing is not assured, pushing investors to reassess richly priced tech leaders.
- The U.S. government shutdown reached day 36, delaying key economic releases such as jobs data and forcing heavier reliance on private indicators.
- Large AI tie-ups still moved individual names, with Amazon boosted by OpenAI’s $38 billion capacity purchase and Nvidia supported by U.S. approval to export chips to the UAE, even as Palantir slid on valuation worries.
- Company-specific news injected further volatility, including Nokia’s plan to delist from Paris, Bouygues securing Sizewell civil works in the UK, and Edenred falling on guidance and Italy’s cap on restaurant-ticket fees.