The Nasdaq rallied as much as 2% after the open before reversing to finish the session -2%. That’s the highest daily trading range since April’s “Liberation Day”. Nvidia did an even bigger swing and finished down -3%.
The VIX jumped to as high as 28 at one point. Why the tizz? No one can put a finger on a singular cause. The jobs number looks the obvious culprit. The US added more jobs than expected, and that makes rate cuts less likely.
SPI futures down 142 points. The ASX set to open lower. WTC AGM
HEADLINES
- US posts solid job growth in September, but unemployment rate rises
- ASX to dive, volatility spike triggers Wall St reversal – AFR
- Spanish court orders Meta to pay $550 million to digital media companies
- AI borrowing binge prompts investors to back away from corporate bonds
- Fed officials eye financial stability as they debate next rate move
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