Stock Market Live Updates: US stocks rebound, but Nasdaq posts fourth straight weekly decline

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Stock Market Live Updates: US stocks rebound on Friday as chipmakers recover from steep losses in the previous session. The Nasdaq rises 1.73%, while the S&P 500 gains 1%, supported by Nvidia and other semiconductor stocks. Strong October jobs data, however, fuel bets on a December Fed rate hike.

US stocks trade higher on Friday as chipmakers recover from Thursday's steep selloff triggered by concerns over tighter AI regulations. Nvidia, AMD, Intel and Micron advance, lifting the Nasdaq and S&P 500. However, stronger-than-expected October jobs data raise concerns over further Fed rate hikes.

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- Steve Sosnick, Chief Strategist, Interactive Brokers

- Dong Baozhen, Chairman, Lingtong Shengtai, Beijing

- Guy Miller, Chief market strategist, Zurich Insurance Group

Nu Holdings Ltd. temporarily suspended cryptocurrency deposits and withdrawals for its Brazilian clients following a technical issue with an unnamed external provider. The fintech giant, which serves roughly 120 million customers in Brazil, assured users that all assets and personal data remain fully protected and that its core infrastructure was not compromised.


The disruption comes amid broader security jitters across the crypto sector after recent high-profile hacks hit major platforms like Binance and Mercado Bitcoin. Nubank confirmed that its other crypto-related products continue to operate as normal, though it did not specify when full transaction services would resume.

Anthropic’s upcoming initial public offering faces mounting pressure as a sharp market selloff prompts prospective buyers to reconsider the company's expected valuation. Potential investors are now discussing a target range between $1.1 trillion and $1.3 trillion, down significantly from earlier estimates of up to $2 trillion. The shift follows a record single-day drop in tech equities triggered by post-election regulatory concerns surrounding artificial intelligence expansion.


Despite the heightened market volatility, market strategists expect the Claude creator to move forward with a more conservative valuation target rather than risk a costly delay. Pricing the offering carefully could help Anthropic build initial investor confidence and avoid severe secondary market swings once trading begins.

Central bankers around the world must account for any potential deceleration in AI-driven economic growth as they evaluate their ongoing fight against inflation. International Monetary Fund Managing Director Kristalina Georgieva highlighted that growing market anxieties surrounding heavy dependence on artificial intelligence investments and elevated stock valuations are already creating widespread global volatility.


This ongoing market instability is set to complicate decision-making for central banks at a delicate moment when risks to price stability are already escalating. Georgieva emphasized that fluctuating market dynamics will likely persist, forcing policymakers to carefully weigh broader economic momentum alongside persistent inflationary pressures.

Euro zone government bond yields held steady on Friday but remained on track for a weekly fall as a sharp selloff in US tech stocks drove investors toward safe-haven assets. Germany's benchmark 10-year yield held at 3.25% after dropping to its lowest level since August, while French yields continued to ease following recent volatility over the country's fiscal deficit.


The flight to safety also prompted traders to scale back their expectations for future European Central Bank rate hikes, pricing in lower long-term interest rates amid concerns over global economic growth. Even after stronger-than-expected US employment figures helped equities regain some stability, euro zone sovereign debt yields remained pinned down by ongoing market caution.

As the global AI sell-off intensifies, investors are questioning whether IPO-bound Anthropic can sustain its $1.5 trillion valuation ambition. Prominent US investor Michael Burry has also raised doubts about whether the AI firm's major partners, including Amazon, Google's parent company Alphabet and Microsoft, are helping polish its financials ahead of its planned IPO.


Read more: Burry questions Big Tech's AI valuation

Federal Reserve Governor Lisa Cook is demanding guarantees regarding fairness, neutral oversight, and evidence disclosure from the White House before agreeing to attend a December 14 hearing aimed at evaluating her removal. President Donald Trump has tried to fire Cook since August 2025 over mortgage fraud allegations, which she denies and frames as a pretext to oust her over interest rate policy.


While a June Supreme Court ruling prevents the president from firing a Fed governor at will, it allows removal for cause if the official receives a fair opportunity to defend themselves. Top economic aide Kevin Hassett confirmed the White House intends to proceed with the scheduled December hearing despite the procedural objections raised by Cook's legal team.

Apple successfully raised $7.5 billion in a high-grade bond sale, drawing strong interest from buyers eager for non-AI tech debt even as broader market volatility triggered a selloff.

Fears of tighter regulation and data center halts sparked a massive tech selloff following Democratic victories in the US midterm elections, where several winning candidates ran on anti-AI platforms. The fallout sent the Philadelphia Semiconductor Index down 12% and the Nasdaq 100 down 6.4% on Thursday—their worst single-day drops since March 2020—wiping out more than $440 billion in market value from Nvidia alone.

Although tech stocks mounted a modest rebound on Friday, investors remain deeply cautious about buying the dip given the uncertain regulatory landscape. With estimates suggesting nearly a third of projected US computing power by 2028 could now be at risk, Wall Street is actively scaling back long-term growth assumptions and repricing high-flying AI valuations across the board.

A rally in semiconductor stocks pushed the Nasdaq 100 up 2% as dip buyers stepped in following a sharp technology selloff. The rebound came alongside a unexpectedly strong US jobs report, which showed nonfarm payrolls rising by 165,000 and unemployment dropping to 4.1%.

While the blowout employment figures reassured investors about the economy's underlying strength, they also sent short-dated Treasuries lower as traders priced in a higher chance of a Federal Reserve rate hike in December. Analysts noted that while Main Street remains on solid footing, tighter financial conditions could still weigh on future growth.

The Nasdaq opened higher on Friday as chip stocks came off heavy losses posted during a sharp selloff on fears that a Democratic-led Congress could result in tougher AI regulation, even as the jobs report raised interest-rate hike concerns.

Read more: US stocks trade mixed

Gold prices slipped 0.4% on Friday to $4,070.59 per ounce as fluctuating crude oil prices sustained persistent inflation concerns ahead of critical U.S. non-farm payrolls data. Despite the daily decline, bullion remained on track for a 5% weekly gain, its best performance since late August, supported by broader market volatility and safe-haven demand. Oil price movements tied to Middle East supply dynamics and de-escalation prospects following the U.S. midterms continued to influence expectations around energy-driven inflation and the Federal Reserve's potential interest rate path.


The broader macroeconomic environment presents mixed signals for precious metals, with Goldman Sachs lowering its end-2026 gold price forecast to $4,150 per ounce due to a more hawkish Fed outlook. Lower spot prices in recent sessions encouraged physical buying in India ahead of the Diwali festival, providing localized demand support. Meanwhile, other precious metals including silver, platinum, and palladium were also positioned to wrap up the week with solid gains.

The U.S. dollar gained against major world currencies on Friday as global investors sought safe-haven assets amid a widening selloff in artificial intelligence stocks. The tech-heavy Asian markets dropped sharply, and European equities extended losses following Thursday's Wall Street plunge, which was triggered by fears of tighter regulation and data center restrictions following Democratic gains in the U.S. midterms. Unlike previous tech downturns, capital rotated directly into cash and U.S. Treasuries, driving down two-year Treasury yields to 4.48% as the dollar advanced against the euro, sterling, and risk-sensitive growth currencies like the Australian dollar.


Market focus now turns to the upcoming U.S. non-farm payrolls report for signals on the Federal Reserve's future interest rate path. Investors are weighing resilient labor market data—highlighted by weekly jobless claims matching a 57-year low of 189,000—against tightening financial conditions caused by the market pullback. Consequently, money markets have scaled back expectations for a 25-basis-point Fed rate hike in December to around 65%, down from over 80% earlier in the week.

- Jane Gibbons, equity strategist at Jefferies

Among individual stocks, Airbnb jumps 12.2% in premarket trading after raising its full-year 2026 revenue growth forecast. In contrast, software company Atlassian falls 14.1% after reporting its first-quarter results. Tesla and SpaceX also recover, gaining 2% and 4%, respectively, after sharp declines over the previous two sessions. Meanwhile, the Dow and S&P 500 futures remain mixed as investors assess the broader market outlook.

Investors assess crude oil prices and the October nonfarm payrolls report for clues on inflation and the Federal Reserve's interest rate outlook. Brent crude futures remain broadly flat on Friday but are set for sharp weekly declines. The S&P 500 energy index is on track for a weekly fall of more than 11%. Meanwhile, traders are pricing in more than a 65% chance of a December rate hike, according to the CME FedWatch Tool.

Investors remain concerned that Democrats' midterm election victory could lead to tougher AI regulation and slow the expansion of data centres. The election results in several key data-centre states have added to uncertainty around the sector's growth prospects. The CBOE Volatility Index, Wall Street's fear gauge, recorded its biggest one-day jump in about 19 months on Thursday before easing slightly to 26.70 on Friday.

Nvidia gains 4.5% in premarket trading after recording its worst session since January 2025, when the emergence of Chinese AI model DeepSeek rattled Wall Street. Other semiconductor stocks also advance, with AMD, Intel, Broadcom and Micron Technology rising between 4.6% and 8.2%. Data centre operators IREN and Applied Digital, along with neocloud companies CoreWeave and Nebius Group, also recover from steep losses in the previous session.

US Nasdaq futures climb on Friday as chip stocks recover from Thursday's sharp technology-led selloff. The previous session wiped nearly $3 trillion off the market value of S&P 500 companies amid concerns that Democratic control of Congress could result in tougher AI regulation. The Nasdaq Composite plunged 5.46%, its steepest one-day decline in 19 months, and entered correction territory. The index is also heading for its fourth consecutive weekly decline.