Nov. 7 at 4:12 PM
$ASML $NVDA $PLTR $TSLA $GOOGL
Markets drop sharply due to tech weakness, labor concerns, and economic uncertainty.
Tech and AI stocks face a sell-off amid fears of an overhyped AI bubble: Nvidia -3% (week -10%), AMD -6%, Qualcomm -4%, with pressure on Oracle, Palantir, Broadcom, Tesla, and Microsoft. Company-specific hits: Duolingo -25% after weak AI outlook, Tesla under scrutiny over Elon Musk’s massive compensation.
Labor data fuels fears: 153,000 US layoffs in October (+44% YTD), ADP only +42k private jobs. Nonfarm payrolls expected -60k, unemployment 4.5%.
US government shutdown (37 days) blocks key economic data, keeping the Fed “blind” on rate decisions. FAA cuts flights by 10%, hitting the travel sector.
Consumer confidence drops to 50.3, with risk-off sentiment across markets: S&P 500 -1%, Nasdaq -1.7%, Dow -0.4%. Markets remain vulnerable after AI optimism fades.
Only buy Paxgold and Bitcoin !