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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
Nvidia has grown to become the largest stock on Wall Street and briefly topped $5 trillion in value. That means its stock movements carry more weight on the S&P 500 than any other stock, and it can single-handedly steer the index’s direction some days.
The better market mood triggered by Nvidia's barnstorming earnings and outlook is reducing concerns about sharp, and possibly negative, stock market moves. The Cboe Volatility index (VIX), is an option-derived measure of expected S&P 500 moves,
Warnings about Wall Street's excessive optimism, concentration risk, and frothy valuations have fallen on deaf ears for most of this year, leaving market-watchers wondering what, if anything, will cool the tech and artificial intelligence frenzy.
1don MSN
Wall Street shoots toward its best day since May on Nvidia's profit report and hopes for lower rates
Relief is running through Wall Street on Thursday, and the U.S. stock market is rallying toward one of its best days since the summer after it seemed to pass a couple of crucial tests. The S&P 500 shot up by 1.
The ongoing Bitcoin crash has claimed a major casualty: BlackRock (NYSE: BLK). Yes, the world's largest asset manager recently suffered its worst-ever rout when its spot Bitcoin exchange-traded fund (ETF) saw the largest sell-off in a single day.
Wall Street stocks slid on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and U.S. jobs data muddied the labor market outlook.