By Jamie McGeever
Publication Date: 2025-11-20 22:03:00
ORLANDO, Florida, Nov 20 (Reuters) – Wall Street experienced a wild rollercoaster ride on Thursday, opening sharply higher on another set of strong results from artificial intelligence giant Nvidia, only to end deep in the red as investors reassessed that optimism and mixed signals from the first U.S. jobs data since the government shutdown ended.
In my column today I look at the warning signs that Nvidia’s results flagged, which may deepen the skepticism around tech and AI that has emerged in recent weeks. It all goes back to whether the vast investment in AI infrastructure will ultimately turn a profit.
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If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.
Today’s Key Market Moves
- STOCKS: Solid gains in Asia, modest gains in Europe, losses in the U.S. Nasdaq -2.2%, S&P 500 -1.6%. VIX index has highest close since April.
- SECTORS/SHARES: U.S. tech -2.7%, Philadelphia Semiconductor Index -4.8%, consumer staples the only gainer, +1.1%. Nvidia -3.2%, Micron Technology -11%, AMD -8%. Walmart +6.5%.
- FX: Dollar index ends flat but not before brushing up against six-month high. Yen at fresh lows but trims losses. Bitcoin -5% to new seven-month low below $86,000.
- BONDS: Short-dated U.S. yields fall as much as 6 bps, bull steepening the curve. December rate cut probability up to 40%.
- COMMODITIES/METALS: Oil slips a bit, gold little changed.
Today’s Talking Points
* Well, that didn’t last long
Wall Street’s…
