It's the enthusiasm didn't last long for the brilliant accounts of NvidiaYesterday on Wall Street we witnessed a sudden and profound U-turn, The Nasdaq's largest daily swing since April 9, when Trump's tariffs spooked markets. Wall Street's benchmark indices fell to their lowest levels in two months, leaving the investors shocked and the search for the cause of all this: on the one hand the ghosts of the tech bubble, on the other hand, hopes for a Fed rate cut are fading after the employment data, while others cite the options expiration today The fact is that Sales were roaring and have also influenced the asian bags and probably also the opening of those europee. The Bitcoin dropped to $85.000. Little changed. and currency market. This morning there are signs of stabilization in the stock market: the Wall Street futures they anticipate a slightly upward start.
Why did Wall Street suddenly reverse course?
Although there was no obvious dominant motive which is responsible for the Nasdaq-100 index's nearly 5% drop from the day's high, are accumulating theories about the sell-off.
Some traders have highlighted the reappearance of concerns about the ability of AI projects to generate sufficient revenue or profit to justify the'huge expenditure on this technology. For others, a strong delay in the report on theoccupation September was the last sign that the Federal Reserve he finished cutting the rates of interest this year. Others have argued that the risk-averse signal sent by the Bitcoin drop at six-month lows was partly responsible for the stock market crash. Concerns about the high stock valuations and an increase in volatility in view of the options expiration today.
Whatever the reason, the intraday drop has the initial optimism has been swept away that US stocks would continue to recover after the sell-off that followed the market's latest all-time highs in late October. What at first sight it looked like a Nvidia's excellent quarterly report, the chipmaker at the epicenter of the race to artificial intelligence and Walmart's accounts showed how consumers continued to spend, were quickly overshadowed by asudden and incessant wave of sales.
After rising as much as 1,9% in an hour's trading session, theS&P 500 index erased gains by closing in 1,6% drop, with over $2,7 trillion in stock market value wiped out. The S&P 500 has lost more than 5% from its October record and fallen below its 100-day moving average for the first time since February. The benchmark index closed at its lowest level since September 11.
The Nasdaq-100 Index tech giants led the stock market lower, closing down 2,4% and widening its decline from the record set on October 29 to 7,9%. Tesla, Alphabet, Apple, Microsoft, Broadcom. and Amazon.com have seen fluctuations of more than $100 billion in their valuations.
Nvidia was the main drag on the Nasdaq 100, erasing an initial 2,4% gain and falling 3,2%, in a decline that wiped nearly $400 billion from its intraday high. Investors ignored the company's higher-than-expected revenue forecasts, amid resurfacing concerns that spending on artificial intelligence chips is unsustainable.
They're arriving this morning signs of stabilization of the stock: Wall Street futures anticipate a slight rise in the start.
Brazil: Trump reduces tariffs on agri-food products
Trump signed an executive order eliminating the additional 40% tariff on several Brazilian agri-food products, key export goods for the country such as beef, coffee, fruit and timber. Trump attributed the decision to the progress made in negotiations with the government of President Luiz Inácio Lula da Silva. The order is retroactive and provides for an exemption for all goods cleared through customs from November 13th onward, with any refunds managed by the U.S. Customs Agency. Last week, Washington had already removed a 10% tariff on other agricultural imports, amid strong domestic pressure to contain the cost of living. The new measure thus eliminates duties that, for products such as meat and coffee, reached 50%.
All Asian stock markets fell. Tokyo launched a stimulus package. SoftBank plunged more than 10%.
The sell-off virus has spread from Wall Street to the Asian stock markets. Japan, the index Tokyo Nikkei is down 2,5%, bringing its performance for the week to -3,5%, with SoftBank falling by more than 10%. yen, at 157,2 to the dollar, is on track to close the week with a drop of around 1,7%: the operators are on alert following explicit threats from Japanese Finance Minister Satsuki Katayama, according to which a intervention on the currency markets could be imminent. The Prime Minister's government Sanae Takaichi approved one economic stimulus $135 billion to help families cope with the rising cost of living and stimulate economic growth, as he had promised. Meanwhile, data showed that the consumer prices Core yields in Japan rose 3% in October, keeping expectations of a short-term rate hike alive. Bank of Japan Governor Kazuo Ueda said the central bank will discuss the "feasibility and timing" of a rate hike at upcoming meetings. manufacturing PMI rises to 48,8 points in November. The export is up 3,6% year-on-year in October thanks to a weak yen
In China Hong Kong's Hang Seng Index -1,7% (-4,5% for the week). The CSI 300 of the Shanghai and Shenzhen stock exchanges -1,7% (-3% for the week). Taipei's Taiex -3,5%, -3,4% for the week. The U.S. Department of Agriculture announced additional sales of U.S. soybeans to China along with the first known wheat sales. The Kospi index Alone is down 3,5%, -3,8% for the week. In Australia The Sydney Stock Exchange closed the week down 3,9%.
The return of risk aversion has penalised above all the bitcoin, which fell to its lowest level since April at $85.800. currency market it was only grazed by the ups and downs of the stocks, Euro at 1,153 to the dollar, more or less at yesterday's levels. The prices appreciated slightly bonds, mainly those of the United States, but the movement has lost strength in the last few hours. The prices of Petroleum continued to decline overnight as the U.S. government pushes for Ukraine to accept a peace deal with Russia. U.S. West Texas Intermediate crude fell 1,2% to $58,29 and has lost 3% this week. Spot prices for They fell 0,5% to $4.055 an ounce, seeing little change overnight.
European stock markets opened sharply lower. At the Milan Stock Exchange, eyes were on Fincantieri, Juventus, and Unipol.
European markets are set for a sharply lower opening, with EURO STOXX 50 futures down 1,4% and FTSE futures down 1%. Today is a day of technical deadlines: futures on stocks and options ending in November 2025.
BTP: the verdict this evening Moody's on Italy
Bper. JP Morgan holds an indirect stake of 5,841% of the capital, according to the latest Consob figures.
SnamBlackrock holds an indirect stake of 5,011% of the capital, according to the latest Consob figures.
Insurance – The proposed amendments to the Budget Law would increase VAT on P&C (driver coverage) motor insurance policies from 2,5% to 12,5%, potentially retroactively for 10 years, generating an impact of approximately €100 million per year, with a one-off impact of approximately €1 billion that could affect insurance companies. A legal battle is possible. Unipol would be the most affected company, with a 25% market share in the motor sector.
Luxury: According to Bain Altagamma, the market for personal luxury goods will return to growth of between 3% and 5% in 2026.
sapphire. It may submit a revised offer to acquire the entire issued and future issued share capital of Inspecs.
FincantieriIt will likely be listed on the main Milan Stock Exchange index, the FTSE MIB, for the first time with the quarterly review scheduled for the end of December. Fincantieri is expected to replace Hera or Diasorin, currently among the stocks with the lowest weightings in the main blue-chip index.
AvioThe capital increase was fully subscribed for 19.630.197 shares, for a total value of just over €399 million, without requiring the intervention of the underwriting consortium.
Juventus FCJuventus announced that the board of directors has exercised the powers granted, resolving to increase the capital against payment and in tranches. In execution of the capital increase, 37.912.181 ordinary shares were placed, equal to approximately 9,1% of Juventus' capital (post-increase), for a total value of €97,8 million.
