What on Earth Just Happened to the Stock Market?

On Wall Street, what began as Redemption Day quickly turned into Reckoning Day, with markets experiencing significant volatility. Initially, traders were optimistic about the potential for a Federal Reserve interest rate cut and the stability of the artificial intelligence sector, but these hopes were short-lived. By midday, the market sentiment turned negative, and the S&P 500 resumed its downward trend, falling more than 5% from its pre-Halloween peak. Concerns about Nvidia's unsustainable growth and a confusing jobs report added to the uncertainty, leading to continued market instability and a forecast of the worst week in seven months.