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AI and Chip Stocks Drag Down US Markets on Shutdown Eve
13 Nov
Summary
- Nasdaq 100 down, Dow Jones and S&P 500 up
- CoreWeave and Nvidia shares plunge
- US government shutdown nearing end
On November 13, 2025, US stock indexes are presenting a mixed picture. The Nasdaq 100 Index has declined by 0.19%, while the Dow Jones Industrials and the S&P 500 have risen by 1.01% and 0.22%, respectively.
The weakness in the market is primarily driven by the performance of AI-infrastructure stocks and semiconductor makers. CoreWeave, a leading AI company, has plunged more than 15% after announcing a delay in its data center project, which is expected to negatively impact its Q4 earnings. Additionally, Nvidia, a prominent chipmaker, has seen its shares drop by over 2% following the news that SoftBank Group has sold its entire stake in the company for $5.83 billion.
However, the overall market sentiment is supported by the progress in resolving the ongoing US government shutdown. The Senate has voted 60-40 to pass a temporary continuing resolution (CR) to fund the government, and the House is expected to quickly approve the measure. If the bill is signed into law by President Trump, it will provide full-year funding for some departments, fund other agencies through January 30, and ensure the payment of furloughed government workers.
Furthermore, the markets are anticipating another 25-basis-point rate cut by the Federal Reserve at its next meeting on December 9-10, 2025, with a 67% probability.
