LIVE MARKETS-Reversal
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
REVERSAL
Stocks finished trading with steep declines on Thursday, with each of the three major indexes ending at or near their session lows as an early rally short-circuited.
The Dow .DJI rose as much as 1.56%, the S&P .SPX rallied as much as 1.93%, and the Nasdaq .IXIC shot up as much as 2.58%, powered by gains in Nvidia NVDA.O and Walmart WMT.N following quarterly earnings from the chipmaker and retail giant, before stocks reversed course a little more than an hour into the session as equities appear unable to shake nagging valuation concerns.
The Dow ended down 0.84%, the S&P fell 1.56% and the Nasdaq closed lower by 2.16%.
Along with valuation worries, investors are also trying to gauge the health of the economy and path of rate cuts from the Federal Reserve. The overdue September labor market report showed employment growth accelerated but the unemployment rate ticked up to 4.4%, its highest in four years. In addition, weekly jobless claims fell to 220,000 for the week ended November 15 but continuing claims increased.
Meanwhile, some Fed officials continued to push back on the idea of a December rate cut from the central bank while Governor Lisa Cook called out a range of risks to the financial system, including a risk of "outsized asset price declines."
"This is a coordinated risk off trade - tech stocks, crypto, etc on worries about valuations and leverage," said Mark Hackett, chief market strategist at Nationwide Investment Management Group in Philadelphia.
"The fact that it is an intraday decline rather than a drop at the open suggests exhaustion.
The Nasdaq registered its lowest close since September 11, and the S&P 500 closed at its lowest level since September 10. The CBOE Volatility Index .VIX closed at 26.42, its highest level since April 24.
Below is your closing market snapshot:
(Chuck Mikolajczak/ Chibuike Oguh)
EARLIER ON LIVE MARKETS:
WALMART HOLDS HIGHER; CONSUMERS LOOKING FOR BARGAINS CLICK HERE
IT'S ALL DOWN TO YOU, AI CLICK HERE
GROWTH VS INFLATION: TIME TO SEE THE FOREST THROUGH THE TREES? CLICK HERE
SOMETHING OLD, SOMETHING NEW: SEPTEMBER PAYROLLS, JOBLESS CLAIMS, HOME SALES, PHILLY FED CLICK HERE
AI COULD BE THE MOST IMPORTANT MACRO FACTOR IN 2026 CLICK HERE
LIFTOFF CLICK HERE
US STOCK FUTURES ADD TO GAINS AFTER LATEST JOBS DATA CLICK HERE
SEPTEMBER'S PAYROLLS: A BIG ONE OR TOO STALE TO CARE? CLICK HERE
BITCOIN GETS POLITICAL CLICK HERE
EUROPE SPARKS TO LIFE AFTER NVIDIA RESULTS CLICK HERE
EUROPE BEFORE THE BELL: STOCKS SET TO JUMP AFTER REASSURING NVIDIA RESULTS CLICK HERE
U.S. JOBS TEST LOOMS AFTER NVIDIA RELIEF CLICK HERE
Closing levels Nov 20 
Related Articles
Elon Musk’s SpaceX Poised for Record-Breaking IPO: How Can Retail Investors Get In on the Action of Starlink Stock?
TradingKey - Elon Musk's rocket manufacturer SpaceX is expected to launch an IPO in 2026, with a target IPO valuation projected to reach $1.5 trillion. However, prior to its listing, the stock can only be traded in the private market, characterized by low information transparency and high capital ba
Cathie Wood Predicts Bitcoin Has Bottomed. Is Now The Best Time to Buy? How to Buy BTC?
Purchasing Bitcoin is generally divided into three stages: pre-transaction, during transaction, and post-transaction. Each stage requires careful attention, as losses can easily arise from operational errors, pitfalls, and other factors.
Musk’s Next Ambition: Building a Space-Based AI Data Center
TradingKey - Musk has long resisted the idea of taking SpaceX public. After the Tesla take-private drama and the resulting SEC penalties (which cost him the chairmanship), he’s been wary of public market entanglements. But something’s changed—and fast.
Japan Central Bank Rate Hike To Three-Decade High Imminent, How Will The Market Go? Which Assets Most Affected?
As global monetary policy divergence enters a critical phase, the Bank of Japan (BoJ) is anticipated to raise its benchmark interest rate at the monetary policy meeting on December 19, 2025, by 25 basis points to 0.75% , marking its highest level in nearly 30 years.
