Stock Market

The U.S. major indexes closed as follows: Dow Jones down 1.09% at 51770.31; S&P 500 down 1.82% at 7580.07; NASDAQ down 2.86% at 25437.00. U.S. equities extended their late-session selloff as weaker-than-expected megacap tech earnings kept pressure on growth shares. The retreat was broad-based, with the Nasdaq underperforming and the S&P 500 giving back more than 140 points.

Unusual-move stocks were concentrated in the semiconductor and AI-linked complex, while a few names bucked the downturn. Among the sharpest decliners, Intel fell 28.58% to $65.76, SanDisk Corp. declined 13.47% to $1150.89, Advanced Micro Devices fell 10.88% to $504.80, and Marvell Technology declined 10.05% to $196.40. Coinbase Global, Inc. fell 10.62% to $143.54, CoreWeave, Inc. declined 9.66% to $54.87, and NEBIUS fell 10.38% to $154.14.

On the upside, MindForge Inc. surged 27.68% to $8.35, Paranovus Entertainment Technology rose 18.15% to $3.45, GigaMedia gained 14.63% to $1.41, Beyondspring Inc rose 24.60% to $0.64, and Jin Medical International Ltd. jumped 26.34% to $2.35.

Sentiment stayed defensive as the broader tech cohort weakened and only a handful of stock-specific catalysts lifted names higher. NVIDIA fell 4.22% to $204.64, Apple declined 1.23% to $344.63, Microsoft fell 1.55% to $521.91, and Meta Platforms, Inc. declined 1.53% to $614.99.

In contrast, Trip.com Group Limited rose 2.67% to $39.59, JinkoSolar gained 4.86% to $8.63, and Yum China Holdings, Inc. increased 1.28% to $45.78.

Other Markets

U.S. 10-year Treasury yield fell by 1.20%, latest at 4.93.

USD/CNH fell 0.0164%, at 6.71; USD/HKD fell 0.0134%, at 7.84.

U.S. Dollar Index rose 0.0491%, at 101.95.

WTI crude futures rose 0.93%, at 102.95 USD/bbl; COMEX gold futures fell 3.63%, at 3884.90 USD/oz.

Top News

1. Amazon and Intel triggered a renewed AI-led selloff in U.S. equities. Their latest earnings releases disappointed investors and reinforced concerns about the payback period for AI spending. The pressure spread across megacap technology names and weighed on the broader market close.

2. Three Federal Reserve officials signaled that more rate hikes may be needed. They said inflation remains too high and that additional tightening could be appropriate soon. Their comments lifted expectations for a December increase and kept policy rates in focus.

3. Gold slid to a one-year low as investors sold safe havens during the tech rout. The metal fell sharply after equity losses triggered margin-related selling and a liquidity scramble. The move pushed the nearby contract below a key psychological level and deepened the month’s losses.

4. Cisco announced a stronger push into AI infrastructure networking. The company highlighted demand tied to data-center buildouts and emphasized its product roadmap for high-performance enterprise networks. The update supported the case for continued spending in the AI supply chain.

5. T-Mobile posted a strong session after reporting a sharp share-price rebound. The stock climbed nearly 7% and reached its highest close in days. The move followed renewed investor interest in telecom names with steadier cash-flow profiles.

6. AbbVie raised its dividend again and extended its long-running payout streak. The increase kept the company in the elite group of dividend aristocrats and kings. The move underscored management’s commitment to returning cash to shareholders.

7. Canadian stocks fell as gold miners and technology shares weakened. The TSX suffered its steepest daily decline in months after weaker gold prices pressured materials stocks. Investors also reassessed the outlook for AI-related spending growth.

8. European shares ended a strong month lower after the global tech selloff deepened. Chip-related stocks led the decline as investors questioned the economics of AI infrastructure investment. The pullback erased part of recent gains across regional bourses.

9. Intel’s post-earnings guidance drew scrutiny from analysts. Commentary on server supply growth raised questions about the company’s timeline for capacity relief. The debate intensified concerns about execution risk and the pace of recovery.

10. Anthropic disclosed rapid revenue growth in an IPO-related filing. The company said it has expanded sales quickly and moved into operating profit territory on an adjusted basis. The filing renewed attention on the size and profitability prospects of the AI ecosystem.

Sources: Reuters, Dow Jones, public market dataDisclaimer: This content is for reference only and does not constitute investment advice.