Web Trader MT5 
U.S. stocks fell on Tuesday as AI-related shares led a broad market decline amid growing concerns about stretched valuations. The S&P 500 dropped 1.17% to 6,775, the Nasdaq 100 slid 2% to 25,447, and the Dow Jones lost 0.53% to 47,159
Palantir was among the biggest losers in yesterday’s session as the stock fell 8% despite strong Q3 earnings and guidance. Nonetheless, the company’s forward P/E ratio reflects extremely high growth expectations. Other AI-big names also declined. Oracle fell 4%, AMD nearly 4%, and both Nvidia and Amazon retreated.
As the earnings season continues, AMD’s Q3 results beat expectations, with adjusted EPS at $1.20 (vs. $1.16 expected), a 36% year-over-year increase. Despite strong results, the stock fell nearly 5% after hours due to moderate margin guidance.
In early trading today, U.S. markets also retreated. The S&P 500 fell 1.18%, the Nasdaq lost 2.%, and the Dow Jones slipped 0.5%.
Asian markets fell sharply today, led by a 4.65% decline in Japan’s Nikkei 225, which dropped below 50,000, as investors sold off AI-related stocks following weakness in U.S. tech shares. The Topix index also fell over 3%.
In China, the Hang Seng fell 1.3% and the CSI 300 dropped nearly 1%, while Australia’s ASX 200 declined 0.7%.
The crypto market continues to struggle as Bitcoin fell below $100,000 for the first time since June, dropping more than 5% as investors fled risky assets amid concerns over inflated AI-driven stock valuations. Ether also slumped more than 10% to a low of $3,062, before bouncing back slightly.
Market sentiment remains weak since Fed Chair Jerome Powell indicated that a December rate cut is not guaranteed during his speech following the latest FOMC meeting.
The US dollar showed renewed strength, as the Dollar Index (DXY) pushed higher for the fifth day in a row. After breaking the major psychological level of 100.00, it recorded a high of 100.25 yesterday. Major currency pairs dropped yesterday with the EURUSD losing 0.3% to 1.1485 and GBPUSD dropping 0.9% to 1.3020.
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