Fri Nov 21 15:20:00 UTC 2025: Headline: Stocks Suffer Whiplash After Initial Nvidia Boost; Crypto Plunge Adds to Market Woes

New York, NY – US stocks experienced a dramatic reversal on Thursday, erasing early gains fueled by Nvidia’s (NVDA) blockbuster earnings and a stronger-than-expected jobs report. The tech-heavy Nasdaq Composite (^IXIC) took the brunt of the sell-off, plunging over 2.1%, marking a staggering intraday swing of more than 3.5%. The S&P 500 (^GSPC) fell 1.5%, and the Dow Jones Industrial Average (^DJI) shed 380 points, or 0.8%.

The day began optimistically, with Nvidia’s impressive results and Walmart’s (WMT) strong third quarter boosting investor confidence. Nvidia initially surged as much as 5% after reporting earnings that exceeded expectations and issuing a robust revenue outlook, fueled by high demand for its Blackwell processors. However, the rally proved short-lived, with the stock ultimately closing down 3.1%.

Adding to the market jitters, the cryptocurrency market experienced a sharp decline. Bitcoin (BTC-USD) dipped below $87,000, nearing its lowest levels since April. The downturn in crypto markets appeared to further dampen investor sentiment, contributing to the broader market sell-off.

Jobs Report Signals Mixed Economic Picture

Thursday also saw the release of the delayed September jobs report, which showed the US economy added 119,000 jobs, exceeding the expected 51,000. However, the unemployment rate rose to 4.4%, up from 4.3% in August, painting a mixed picture of the labor market.

The report also affected the interest rates outlook from the Fed, with traders pricing in around 38% odds of a rate cut at the Fed’s next meeting in December.

Consumer Sentiment Concerns Surface

Concerns about consumer spending also weighed on markets. Comments from major retailers like Walmart, Home Depot, Target, and Lowe’s indicated that lower-income shoppers were feeling the pinch, raising concerns about the strength of the economy as it heads into the holiday season.

Crypto Plunge Blamed for Afternoon Reversal

Analysts pointed to the sharp downturn in the crypto market as a potential catalyst for the afternoon sell-off. The broader risk-off mood prompted investors to reassess valuations, particularly in the technology sector.

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