Stocks Fall Ahead of Key Nvidia Earnings and Jobs Report

NEW YORK, Nov 17, 2025 — Wall Street started the week on a negative note, with stocks and bitcoin declining as investors braced for significant economic reports. The Dow Jones Industrial Average fell 557 points, or 1.18%, closing at 46,780. The broader S&P 500 dropped 0.92%, while the Nasdaq Composite decreased by 0.84%.

The VIX, known as Wall Street’s fear gauge, surged 13%, indicating “extreme fear” among investors. The downturn follows growing concerns about tech stock valuations and spending strategies, especially as Nvidia prepares to report its earnings on Wednesday and a long-delayed September jobs report is due on Thursday.

“These two events are top of mind for Wall Street,” said José Torres, senior economist at Interactive Brokers. Investors are wary of whether the robust AI trade can hold steady and if the Federal Reserve might pause its rate-cutting cycle at its December meeting.

This month, the tech-heavy Nasdaq has declined almost 5.5% from its late October peak, reflecting jitters about high valuations amid soaring spending plans among major tech firms. On Monday, bitcoin’s value plunged below $90,000 for the first time in seven months.

Amid these fluctuations, Coinbase, the popular cryptocurrency exchange, saw its shares fall by 7%. Stocks across the S&P 500 dropped below their 50-day moving averages, a key support threshold, according to FactSet. “While the long-term trend remains positive, a corrective phase appears to be underway after the market’s six-month winning streak,” noted Craig Johnson, chief market technician at Piper Sandler.

As investors adjust, there is speculation about whether the Fed will change its stance on interest rates. Seventy-five percent of traders previously expected a rate cut, but that has decreased to 45% over recent weeks.

“Data released this week will be crucial for gauging key risks heading into the December Fed meeting,” stated Mohit Kumar, chief strategist at Jefferies.

Market sentiments shifted as investors rotated from high-flying tech stocks into more affordable sectors, a move welcomed by some analysts. “This rotation could help ease some of the market’s exuberance, allowing for a more sustainable growth period,” said Sam Stovall, chief investment strategist at CFRA Research.