U.S. stocks slid as the S&P 500 fell and the Nasdaq led losses, pressured by tech and AI‑linked names. The Dow lagged but held up better as safe‑haven buying supported cyclicals. Volatility rose on weak private jobs data, FAA flight cuts and tariff uncertainty; investors rotated into defensives while bond yields swung on recession fears.
The FAA will slash flight capacity at dozens of major U.S. airports as the government shutdown stretches on, forcing airlines into emergency schedule changes. The moves threaten Thanksgiving travel and ripple across carriers, airports and booking systems.
153,074 – Job cuts announced in October, the highest October tally in 22 years.
Tesla shareholders approved an unprecedented compensation package for Elon Musk and the company eyes closer ties with Musk’s xAI. The vote shifts governance and raises questions about capital allocation as Tesla pursues ambitious production and AI goals.
OpenAI is seeking multibillion-dollar support to fund an enormous data‑center buildout while publicly insisting it won’t seek a government bailout. The company’s funding push and big revenue claims heighten debate over private funding vs. public backstops for critical AI infrastructure.
Expedia stock jumps after Q3 beat, raises outlook
Expedia beat Q3 estimates, raised guidance and signaled resilient travel demand, sending shares higher and offering a bright spot for travel sector recovery.
The Congressional Budget Office disclosed a cyber incident that may affect a core congressional analytics shop. Lawmakers and staff face new vulnerabilities as an investigation into suspected foreign hacking continues.
New footage and on‑the‑ground searches are driving scrutiny of a lethal UPS cargo plane crash in Kentucky. Investigators are piecing together maintenance, engine and timeline evidence as the death toll mounts.
DoorDash plunges on spending plans — worst trading day
DoorDash tumbled after warning it will spend heavily on new initiatives in 2026, triggering the company’s steepest one‑day drop as investors recoil at higher cash burn.
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The government shutdown is inflicting immediate economic damage on travel: billions in lost revenue and higher fares are expected as airlines adjust to FAA capacity cuts. The industry warns the disruption could snowball through the holiday season.
Equity markets sold off as concerns about AI valuations and weakening jobs data hit risk assets. Tech and AI‑linked names led declines, prompting broad market volatility and big index moves.
FAA to cut flight capacity amid shutdown; federal judge orders full SNAP payouts for November; Supreme Court scrutiny of tariff authority raises trade‑policy uncertainty; UK/BoC moving toward stablecoin rules — regulators tightening oversight across finance and tech.
Corporate cost‑cutting and automation drove layoffs to the highest October pace in two decades, with October’s headlines underscoring mounting labor market stress. The tally signals rising recession risks and forces re‑thinking of hiring strategies.
The White House struck deals to cut prices and expand coverage for blockbuster GLP‑1 obesity drugs, a major policy move that reshapes pharma pricing and Medicare exposure. The deals carry political and fiscal consequences as access widens.
My guess is the developed world will be working three‑and‑a‑half days a week.
— Jamie Dimon
The Supreme Court appeared skeptical of the administration’s sweeping tariff authority, injecting legal uncertainty into a signature trade policy. Markets and trade partners await a potential ruling that could reshape U.S. tariff powers.
Nancy Pelosi announced she will not seek reelection, ending a decades‑long leadership era in the House. Her departure sets up a major realignment for House Democrats and triggers a scramble for influence and fundraising.
A federal judge granted the government’s motion to dismiss a criminal conspiracy charge tied to two deadly 737 Max crashes, a development that spares Boeing a high‑profile criminal trial. The decision raises fresh questions about accountability and industry oversight.
Ukraine reported strikes on a major Russian oil refinery while holding positive talks with the U.S. on missile deliveries, signaling both battlefield escalation and diplomatic progress. The moves carry implications for energy markets and Western military support.
China is leveraging Huawei clusters and low‑cost power to scale AI capacity, while U.S. industry leaders warn of a fierce AI race. The interplay of chips, energy and policy intensifies strategic competition between Beijing and Washington.
The European Commission opened an antitrust probe into a potential tie‑up between Deutsche Börse and Nasdaq in derivatives, raising regulatory risk for major exchange consolidation. The inquiry could reshape the EU trading landscape.
A federal judge ordered the Trump administration to pay full SNAP benefits for November, a court rebuke that forces fiscal choices amid the shutdown and raises political stakes. The ruling delivers immediate relief to millions but complicates budget talks.
Enterprise software and AI deals drove strong results at Datadog and a major cash injection into Snap via a Perplexity deal, underscoring continued appetite for AI monetization despite market jitters. Investors rewarded better‑than‑expected guidance and strategic partnerships.
Crypto markets slumped alongside equities as risk appetite faded and Bitcoin dipped below key levels, while regulators kept pressure on exchanges with fines. The episode highlights persistent fragility in crypto sentiment and compliance risks for platforms.