Overview
- U.S. indexes fell sharply, with the S&P 500 and Nasdaq closing under their 50-day moving averages for the first time since late April and the Dow dropping about 1.2%.
- Nvidia reports Wednesday in what many view as a key test of the AI trade, and its shares slipped nearly 2% ahead of the results.
- The shutdown-delayed U.S. September jobs report arrives Thursday, with CME FedWatch now showing roughly a 40%–46% chance of a December rate cut versus over 90% a month ago.
- Bitcoin slid to roughly $91,000–$92,000, erasing its gains for the year and pressuring crypto-exposed shares.
- Asian markets tracked the U.S. lower, with Tokyo and Seoul down more than 3%, even as Korea’s earlier rally expanded its 10 trillion won large-cap roster to 61 firms.