Global markets traded nervously as tech and AI names led a selloff while cyclical and defensive sectors saw mixed flows. The S&P 500 and Nasdaq slipped on valuation concerns while the Dow showed relative resilience; Treasury yields rose and the dollar firmed. Key catalysts: Supreme Court tariff hearing, ADP/ISM print, and surprise crude builds.
A UPS cargo jet exploded after takeoff from Louisville, triggering a multiagency safety response. Investigators and safety officials are on site as death toll and causes remain under probe.
15bn – Weekly cost to the U.S. economy from the ongoing government shutdown.
The Supreme Court took up a pivotal challenge to President Trump’s use of emergency powers to impose sweeping tariffs. Justices and the Solicitor General engaged in sharp exchanges over the limits of executive authority.
The U.S. government shutdown has surpassed previous records, deepening fiscal and operational strains. Economists and officials warn of mounting weekly costs and cascading impacts across services and travel.
Aramco posts robust Q3 profit — oil giant beats expectations
Saudi Aramco reported a strong third-quarter profit, demonstrating resilience amid weak energy prices and signaling steady cash generation for investors.
More on fastcompany.com
Speculative assets and big-cap tech were hit in a widening selloff that pulled in major companies. Michael Burry disclosed large short bets against AI-linked names, intensifying market volatility.
Treasury yields and bond market flows shifted sharply as investors recalibrated rate-cut odds. The dollar firmed amid a risk-off tilt and rising yields pressured gold and duration-sensitive assets.
Pinterest stock dives after earnings miss — ad sales hit by tariffs
Pinterest shares plunged after a Q3 earnings miss and signs that tariff-driven ad-market weakness is crimping revenue — a sharp near-term hit to growth expectations.
More on investors.com
AMD is positioning a rack-scale Helios architecture to challenge Nvidia in the AI server market. Nvidia, meanwhile, is scaling investments in India as chip geopolitics intensify.
Alphabet cleared regulatory hurdles to buy cloud-security Wiz, while a landmark settlement with Epic reshapes Android app economics. Both moves alter competition dynamics in cloud, app stores and developer economics.
Supreme Court review could curb presidential emergency trade powers; France begins temporary suspension of Shein’s marketplace over illegal goods; Treasury plans steady note and bond auctions while preparing for future increases.
Amazon and AI search startup Perplexity are locked in legal conflict over agentic shopping bots. The dispute highlights growing friction as AI tools begin to act on users’ behalf in commerce.
Security researchers flagged the first known real-world use of AI-powered malware, raising the threat level for corporate and national networks. Reports show attackers leveraging advanced models to automate espionage and data theft.
“If the shutdown continues, parts of our airspace may have to be closed — mass chaos will follow.”
— Transportation Secretary Sean Duffy
Ripple secured a large institutional financing round at a $40bn valuation, underscoring renewed crypto fundraising momentum. Yet crypto ETF outflows show investor risk aversion amid the tech selloff.
Novo Nordisk cut its 2025 outlook again as weight-loss drug competition intensifies. The company also reached a U.S. Medicare pricing deal that tempered investor reaction to the downgrade.
Zohran Mamdani’s upset victory in New York signals political shifts that could ripple through policy and markets. Wall Street is already assessing the potential fiscal and regulatory implications for the city.
Benchmarks swung as economic data and earnings flows collided with an AI-driven tech selloff. Traders are watching for whether the rebound is durable amid elevated volatility across Nasdaq and S&P names.
Legacy tech and consulting firms are cutting roles as they reallocate to AI and software priorities. IBM said it will cut thousands while executives acknowledge broader restructuring pain.
Air travel faces operational strain as shutdown-related staffing gaps complicate recovery. Officials warn parts of airspace could be closed if the funding impasse persists.
France moved to suspend Shein’s marketplace after investigators found prohibited items, including childlike sex dolls, prompting political and regulatory backlash. The move could ripple through EU e-commerce rules.
U.S. private payrolls surprised to the upside in ADP’s report, while ISM data showed services activity accelerating. The data complicates the outlook for Fed rate cuts and market positioning.
U.S. crude inventories rose sharply, weighing on oil prices as production and imports rebounded. WTI held losses after the surprise build, pressuring energy markets into the close.