US stocks were hammered on Thursday as an abrupt midday reversal in markets followed a blockbuster earnings report from Nvidia and the release of the long-delayed September jobs r

AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.

The stock market’s fear gauge spiked to its highest levels in a month. The CBOE Volatility Index, or VIX, surged as high as 28.27 on Thursday, which was its highest intraday level since Oct. 17. It later pulled back to 26.

The S&P 500 is tracking toward its worst November since 2008 amid mounting concerns over an AI-fueled "bubble" that not even Nvidia and its CEO, Jensen Huang, could allay after it

The S&P 500, a broad measure of stocks, gained 1.5% as trading opened. The tech-heavy Nasdaq jumped 2%, but later backed down slightly from its high. The Dow Jones Industrial Average rallied 600 points, around 0.8%.

The U.S. stock market appeared geared up for a rebound after Nvidia’s stronger-than-expected earnings report after th

The fact that a small group of consumers is driving growth leaves the economy more susceptible to a downturn. Higher-end households are more vulnerable to a stock market correction, for example.

The tides of investor sentiment seem to be shifting, with more investors feeling pessimistic about the future. Just under 50% of U.S. investors are "bearish" about the next six months, according to the most recent weekly survey from the American Association of Individual Investors, with only around 32% feeling "bullish."