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Losses for Big Tech pull Wall Street lower
- On Nov. 3, 2025, stocks fell on Wall Street, pulled down by losses in big tech companies that had driven this year’s rally, spreading losses across the S&P 500.
- A flood of multibillion-dollar AI investment has driven tech valuations this year, boosted by OpenAI’s $38 billion deal with Amazon's AWS and Microsoft contracts involving Nvidia.
- Nvidia reversed course with a loss of 4%, while Palantir Technologies, which had more than doubled this year, slumped despite beating forecasts; their huge market values influenced broader sentiment.
- The S&P 500 slid 1.2% Tuesday, the technology-heavy Nasdaq composite sank 1.9%, and the Dow Jones Industrial Average lost 0.5% amid the broad pullback.
- Fed officials cautioned that further cuts aren't guaranteed despite Wall Street forecasters pricing a 70% chance of a December cut, while Ipek Ozkardeskaya noted some skepticism over deal circularity and rising talk of a correction.
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Asian markets slip as traders eye tech rally, US rate outlook
Asian markets fell Tuesday as investors assessed the latest tech rally on Wall Street amid worries a bubble is forming in the sector, while mixed signals from Federal Reserve officials fed uncertainty over its next interest rate move.
The dwindling outlook for a fall in interest rates in the US is becoming a burden for the markets. In the DAX, the 24,000-point mark remains a heavy hurdle - initially it is expected to go down.
·Hamburg, Germany
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Coverage Details
Total News Sources125
Leaning Left25Leaning Right15Center45Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 29%
C 53%
R 18%
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