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Tech Titans Tumble as US Stocks Slide on Earnings Jitters
7 Nov
Summary
- Nvidia, Microsoft, and Amazon stocks fall 2.4%, 1.9%, and 2.6% respectively
- S&P 500, Dow, and Nasdaq indexes decline 1%, 1%, and 1.6%
- Government shutdown impacts airlines with 10% air traffic reduction
On November 7, 2025, the US stock market experienced a significant downturn, with major technology companies leading the decline. The S&P 500 index dropped 1%, the Dow Jones Industrial Average fell 449 points or 1%, and the Nasdaq composite declined 1.6%.
Technology stocks were the primary drivers of the market's weakness, with several high-profile companies seeing substantial losses. Nvidia fell 2.4%, Microsoft slipped 1.9%, and Amazon declined 2.6%. Investors were closely monitoring the latest round of corporate earnings reports and statements from executives, seeking insights into the state of the economy and the path ahead.
The ongoing US government shutdown, now the longest on record, is also having a direct impact on the airline industry. The Federal Aviation Administration announced it will reduce air traffic by 10% starting on November 8th across 40 "high-volume" markets, as airports face critical staffing problems due to the shutdown. Shares of major airlines, including American Airlines, Delta Air Lines, and United Airlines, all fell between 1.8% and 2.7% in response to the news.
Despite the market's recent record-setting performance, concerns have been growing that stocks may be overvalued, particularly in the technology sector. The latest earnings reports are being closely watched to determine whether the market's lofty valuations are justified.
