Overview
- The Nasdaq fell 1.9%, the S&P 500 lost 1.1% and the Dow slipped 0.84% on Thursday.
- AI-linked names led losses as Nvidia dropped 3.65%, Palantir 6.8% and AMD 7.3%, while the Philadelphia Semiconductor Index fell 2.39% and Qualcomm slid after warning of possible lower Samsung orders.
- The VIX rose 8.4% to 19.52, signaling increased risk aversion after a brief midweek pause.
- Challenger, Gray & Christmas reported 153,074 announced job cuts in October, the highest October since 2003, as markets relied on private indicators.
- Airline shares weakened after the FAA ordered a 10% traffic reduction at 40 U.S. airports to ease strain on unpaid controllers during the shutdown.