US Markets Today: Wall Street Remains Volatile as AI Stocks Move; Global sell-off deepens in Europe and Asia – The Times of India

The US stock market remained volatile on Friday, continuing the turbulence from the previous session as major AI-linked stocks wobbled sharply and triggered another day of choppy trading on Wall Street.The S&P 500 fell 0.5% after recovering some of an earlier 1.3% decline. The Dow Jones Industrial Average fell 485 points, or 1%, while the Nasdaq composite was down 0.4% at 10 a.m. Eastern time, showing little stability after Thursday’s sell-off.AI stocks remained the focus. Nvidia – which has become the market’s most influential beneficiary of the AI ​​boom – went from a steep early loss to a small gain of 0.1%, dragging broader indices along with it. The company’s shares, which have more than doubled in four of the past five years, are still within sight of records that helped push the S&P 500 to record highs late last month, AP reported.“The occasional market downturn is the price of the ticket,” said Brian Jacobsen, chief economist at Annex Wealth Management, as traders continued to debate the sustainability of AI-driven valuations. Nvidia’s earnings next week are now seen as crucial, with analysts warning any shortfall could lead to deeper declines as the stock has the biggest influence on the S&P 500.Outside the technology sector, Walmart fell 1.5% after announcing that CEO Doug McMillon will retire in January, a move that surprised investors given his role in expanding the retailer’s digital operations.Market sentiment was also determined by uncertainty about interest rates. The yield on the 10-year Treasury note was unchanged at 4.11% from late Thursday, as traders reassessed the likelihood of another Federal Reserve rate cut in December. Although the Fed has cut rates twice this year, officials have signaled caution amid inflation remaining above the 2% target and slowdowns in economic data due to the U.S. government shutdown.Bitcoin, which often responds to shifts in interest rate expectations, briefly fell below $95,000 before recovering slightly, well below October’s level of nearly $125,000. Gold fell almost 3% as concerns about higher interest rates dampened demand for non-yielding assets.Global markets also reflected Wall Street’s weakness. South Korea’s Kospi fell 3.8%, London’s FTSE 100 lost 1.5%, and indices in Europe and Asia were sharply lower. The sell-off added pressure on stocks from Seoul to Shanghai, where markets fell on broader caution and sector-specific concerns.