Stock Market Plunge: What’s Dragging Down Markets Today?
Markets tumble as investors hit the panic button—here's why.
Fed fears, earnings misses, or geopolitical chaos? Breaking down the bloodbath.
Wall Street's 'risk-on' mood evaporates faster than a meme-stock rally.
Bonus jab: Another day, another excuse for hedge funds to justify their fees.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Tech stocks have largely contributed to the poor performance in the two indexes and are set to have their worst week since President Trump’s “Liberation Day” in April. The market capitalization of the eight most valuable tech stocks, which includes Nvidia (NVDA), Meta Platforms (META), and Palantir (PLTR), has fallen by $911 billion since last Friday, according to the Financial Times.
Consumer Sentiment Nears Record Low
The weakness comes amid the University of Michigan’s preliminary Index of Consumer Sentiment falling to 50.3 in November, registering the weakest reading since the record-low of 50.0 in June 2022 and missing the estimate of 53.0. A reading below 60 indicates deflated sentiment, while a reading above 80 points to optimism. The decline in sentiment was seen across all age, income, and political groups.
UM Surveys of Consumers Director Joanne Hsu added that consumers are growing increasingly worried about the negative effects of the government shutdown, which has disrupted Supplemental Nutrition Assistance Program (SNAP) benefits and air travel in recent days.
