Nasdaq Plunges, AI Stocks Tumble, Fed Rate Cut Unlikely

US stock markets experienced a dramatic shift on Thursday, with the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all closing lower after earlier gains. Nvidias shares, along with other AI-related stocks, saw significant fluctuations due to concerns about an AI bubble. The September jobs report, though old, showed strong numbers, reducing the likelihood of an interest rate cut in December. This news, combined with high stock valuations, has investors questioning the timeline for a market rebound. Asian markets also saw declines on Friday, with SoftBank shares plunging over ten percent.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.