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Informist, Friday, Nov. 21, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: US mkt reverses early gains to end sharply dn; Nvidia falls 3%

 

MUMBAI--0730 IST--Equity indices in the US reversed gains from earlier in the session and ended sharply lower Thursday. Shares of artificial intelligence-related companies had risen at market opening after industry bellwether Nvidia Corp.'s strong quarterly earnings late Wednesday boosted sentiment, but fell thereafter, indicating persistent concern among market participants over lofty valuations of AI companies. Adding to the downward pressure, healthier-than-expected jobs data from the US Labour Department increased chances of the US Federal Reserve skipping another rate cut at its December policy meeting.

 

"The Nvidia results, while positive, weren't enough to dispel doubts around whether valuations had gotten too rich," Sameer Samana from Wells Fargo Investment Institute was quoted by Bloomberg as saying. Shares of Nvidia, which had risen as much as 5?rlier in the day, closed more than 3% lower. Shares of technology company Oracle fell 6.5% and those of chip company Advanced Micro Devices slumped nearly 8%. Among the 'magnificent seven' group of companies, shares of Apple, Alphabet, Microsoft, and Tesla declined 1-2%. The Nasdaq Composite index fell a little over 2%, declining from a 2.6?vance at its highest point in the session.

 

Concerns about AI stock valuations persisted, and traders were concerned about the health of the sector in case the US Fed does not lower interest rates further. The September jobs report showed the economy added 119,000 jobs following a 4,000 drop in August. Economists polled by Reuters had predicted a 50,000 gain. Morgan Stanley on Thursday scrapped its forecast that the US Federal Reserve would cut interest rates by 25-basis points. "The sharp and broad rebound in payrolls suggests the summertime slowdown might have been exaggerated," strategists at Morgan Stanley were quoted by Reuters as saying. Fed Funds futures traders were pricing in a 40% chance of a 25-bps cut by the apex bank at its December meeting, sharply lower than the near unanimous prediction in favour of a rate cut a month ago, according to data from CME Fedwatch.

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6538.76	(-)1.56
NASDAQ Composite	22078.05	(-)2.15
Dow Jones Industrial Average	45752.26	(-)0.84

 

(Eshitva Prakash)

 

End

 

US$1 = INR 88.71

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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