US stock market crash deepened Thursday as AI overhype fears collided with bleak jobs data. Dow Jones fell 0.8%, S&P 500 dropped 0.9%, and Nasdaq tumbled 1.6%. Challenger data showed 153,074 layoffs in October — the worst since 2003. Qualcomm Backtesting sank 4%, AMD lost 6%, and Nvidia dropped 2%. The selloff reflected growing doubts about inflated tech valuations.

Layoffs surge to worst October since 2003

• Qualcomm sank 4%, AMD lost 6%, and Nvidia dropped 2%.
• Instead of tech stocks, traders were buying bonds.
• The market data on this page is currently delayed.
• With the government still shut down, Wall Street is turning to private data providers for updates on the economy.

The inclusion of a company in the Dow Jones Industrial Average does not depend on defined criteria. Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded. There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed. The force index indicator is a technical tool used by traders to measure the power behind movements in the price action. Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it.

• The shares included in it are weighted according to price; the index level represents the average of the shares included in it.
• Dividend payments are not considered in the index.
• The latest was Revlio Labs, a workforce intelligence firm, which estimated the U.S. lost 9,100 nonfarm jobs in October.
• Dow Jones fell 0.8%, S&P 500 dropped 0.9%, and Nasdaq tumbled 1.6%.

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Now, he says easier Fed policy willspark one more rally before the bubble pops.

Dow Jones Industrial Average .DJI:Dow Jones Global Indexes

With job cuts rising 44% this year, investors fear the AI rally is cracking. The stock market fell again on Thursday as Wall Street continued to sell riskier technology and consumer discretionary stocks in the wake of some weaker labor market data. Instead of tech stocks, traders were buying bonds. The yield on the 2-year Treasury note dropped to 3.56%, while the 10-year yield was down to 4.09%. The market data on this page is currently delayed.

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Dividend payments are not considered in the index. Employers announced over 153,000 job cuts last month, marking the worst October for layoff announcements in 22 years. With the government still shut down, Wall Street is turning to private data providers for updates on the economy. The latest was Revlio Labs, a workforce intelligence firm, which estimated the U.S. lost 9,100 nonfarm jobs in October. The Dow Jones Industrial Average fell 397 points, or 0.8%. Ray Dalio has been concerned about the state of the economy all year.