Nasdaq futures dip as Nvidia woes persist; Anthropic IPO in focus: Stock Market Live Updates

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Stock Market Today Live: US stocks fall as Nvidia controversy, Anthropic IPO draw focus.

Dow Jones | Nasdaq | Stock Market Live: Wall Street's main indexes opened lower on Tuesday after hotter-than-expected inflation data for October threatened to pause a two-day rebound in tech shares and revive the selling pressure that had rattled markets last week.

The Dow Jones Industrial Average fell 226.5 points, or 0.43%, at the open to 52,163.21. The S&P 500 fell 36.8 points, or 0.49%, at the open to 7,513.09​, while the Nasdaq Composite dropped 205.7 points, or 0.81%, to 25,047.448.

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US natural gas futures held near a three-week high on Tuesday on forecasts for cooler weather and more demand in late November, record gas flows to liquefied natural gas export plants and a drop in output in recent weeks. Front-month gas futures for December delivery on the New York Mercantile Exchange rose 0.6 cents to $3.224 per million British thermal units, putting the contract on track for its highest close since October 15 for a second day in a row.

Bets on a 50-basis point rate hike by the Federal Reserve in December started to build on Tuesday on the heels of a hotter-than-expected reading of inflation and comments by a key Fed official saying he would support more aggressive action in the event of a too-hot Consumer Price Index report.


With a 25-basis point hike now fully priced in, the probability of a 50-basis point hike next month stood at around 10%, according to CME FedWatch.

TSMC plans to invest up to $1 billion across leading AI developers Anthropic and OpenAI, highlighting the Taiwanese chipmaker's confidence in long-term demand for the technology even as concerns grow about soaring AI spending.

US Secretary of State Marco Rubio on Tuesday said that he told G7 allies that US economic sanctions and naval blockade are working "so well" that President Donald Trump does not have any need to conduct major combat operations in Iran.


Speaking to reporters in Paris, Rubio said the economic pain Washington has inflicted gets worse in time but that US was still open for a "real deal" to be done, but the conditions Tehran continued to place were "absurd".

German defence firm Helsing will present new artificial intelligence-based military targeting software on Wednesday, seeking to benefit from growing concerns among European governments about relying on US companies such as Palantir.

After President Donald Trump's repeated threats to quit NATO, concerns over dependence on Washington and data sovereignty have fuelled resistance against US data analytics and defence software firm Palantir in parts of Europe.

President Donald Trump said the FBI is looking into Nvidia Corp. Chief Executive Officer Jensen Huang’s extramarital relationship with a suspected Chinese spy, and offered his support to the embattled chip magnate a day after the affair was disclosed.


Despite the allegations, Trump said Monday that he spoke to Huang earlier in the day to ask how he was doing, and praised Huang as a “very honorable man.”

US Treasury yields jumped on Tuesday after data showed that US consumer prices rose more than economists expected in October, leading traders to bolster bets on a larger interest rate hike at the Federal Reserve’s December 8-9 meeting.


The Consumer Price Index rose 0.4% last month after advancing 0.6% in September, while core prices, which exclude the volatile food and energy components, increased 0.3% last month, matching September's gain.

US consumer prices increased more than expected in October, leaving the Federal Reserve on course to raise interest rates next month.

The Consumer Price Index rose 0.4% last month after advancing 0.6% in September, the Labor Department's Bureau of Labor Statistics said on Tuesday. Economists polled by Reuters had forecast the CPI climbing 0.3% over the month.

Futures tied to the S&P 500 fell sharply on Tuesday after a hotter-than-expected inflation reading strengthened expectations that the Federal Reserve will keep interest rates higher for longer. At 08:32 a.m. ET, Dow E-minis were up 46 points, or 0.09%, and S&P 500 E-minis were down 26.25 points, or 0.35%. Nasdaq 100 E-minis were down 256.5 points, or 0.92%.

CoreWeave is set to report quarterly results after Tuesday’s market close, with investors seeking reassurance about the sustainability of the AI boom and the neocloud firm’s debt burden. CoreWeave and peer Nebius fell 1.3% each in premarket trading.

US consumer prices are expected to rise 0.3% for the month, easing from September’s 0.6% increase, according to a Reuters survey. Annual core inflation is forecast to accelerate slightly to 2.7%, remaining above the Federal Reserve’s 2% target.

Anthropic’s planned listing could rank among the world’s biggest IPOs, with the AI company seeking to raise as much as $64.4 billion, according to a filing. The offering comes amid concerns about excessive AI investment and could intensify competition among industry heavyweights for investor capital.

Nvidia erased its premarket gains and fell 0.2% after The Information reported allegations involving Huang’s relationship with a Chinese businesswoman and the shipment of at least $7.5 billion worth of chips through Chinese companies. The claims have heightened investor scrutiny of Huang’s leadership and future at the AI chipmaker.

Nasdaq 100 futures slipped 0.34% on Tuesday as investors assessed developments surrounding Nvidia CEO Jensen Huang and Anthropic’s planned IPO. Dow futures rose 168 points, or 0.32%, while S&P 500 futures were nearly flat.