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Tech Selloff Drags Markets Lower as Consumer Sentiment Worsens

Tech Selloff Drags Markets Lower as Consumer Sentiment Worsens

Author:

Global Cryptocurrency

Published:

2025-11-07 17:36:02

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BTCCSquare news:

U.S. equities extended losses Friday as megacap tech stocks erased $911 billion in market value this week. The S&P 500 and Nasdaq 100 slid further after opening in negative territory, with semiconductor and AI-related names leading declines. Nvidia (NVDA), Meta Platforms (META), and Palantir (PLTR) were among the hardest hit.

Growing economic concerns amplified the selloff. The University of Michigan's preliminary consumer sentiment index fell to 50.3 in November - nearing June 2022's record low. All demographic groups reported deteriorating outlooks, particularly regarding government dysfunction's impact on social programs and transportation.

By:

U.S. Consumer Confidence Plummets to Near-Record Low Amid Government Shutdown

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