U.S. Stocks Slide as Nvidia’s Early Rally Collapses & Key Data Gets Delayed
Markets flipped red fast today. The S&P 500 dropped 1.56% after touching 6,770, while the Nasdaq sank 2.15% in its wildest swing since April.
Nvidia posted a record $57B in Q3 revenue (+62% YoY) — but the stock still closed 3.2% lower after a sharp intraday reversal.
Adding fuel to the uncertainty, the BLS delayed October & November jobs reports due to the recent shutdown, rattling traders ahead of the Fed’s December meeting and wiping out roughly $1T in market value.
Crypto didn’t escape the chaos either: Bitcoin slipped 3.5% to $88K.