The tech-heavy Nasdaq suffered its worst single-session decline in four weeks
AI's sharp movements continue to be the story on Wall Street this week. The Dow shed 251 points for its second-straight triple digit drop, the S&P 500 retreated back below 6,800, and the Nasdaq gave back 486 points for its worst single-session decline since Oct. 10. Palantir Technologies (PLTR), Oracle (ORCL), and other AI-adjacent names felt the pain, as Wall Street frets over valuation concerns and stretched expectations. The Cboe Volatility Index (VIX) has come to life in response, closing at its highest level in two weeks.
Continue reading for more on today's market, including:
- Defense stocks could be a safe-haven if AI crumbles.
- Buy the dip on this travel stock.
- Plus, unpacking UBER earnings; SRPT options buzz; and a survey to fill out.
Gold Back Below 4K as OPEC+ Decision Weighs on Oil
Oil prices took a step back, as the market assesses the OPEC+ decision to raise output in December but then pause increases starting 2026. December-dated West Texas Intermediate (WTI) crude lost 59 cents, 0.8%, to settle at $61.05 per barrel.
Gold prices retreated further from $4,000 today, as a resurgent U.S. dollar dulled the appeal of a safe-haven asset. December-dated gold futures lost 1.7% to settle at $3,945.10 per ounce.