On Tuesday, U.S. stock markets experienced a broad sell-off, with the Nasdaq Technology Index closing down over 2.5% and the semiconductor index plunging 4%. CEOs of several major Wall Street banks publicly cautioned about a potential market correction, amplifying investor anxiety.

**U.S. Markets** The Dow Jones fell 251.44 points (0.53%) to 47,085.24, while the Nasdaq dropped 486.09 points (2.04%) to 23,348.64. The S&P 500 declined 80.34 points (1.17%) to 6,771.63. Six of the "Magnificent Seven" tech giants saw declines, and the Philadelphia Semiconductor Index tumbled 4%. NVIDIA (NVDA.US) slid 3.96%, Tesla (TSLA.US) dropped 5.15%, Microsoft (MSFT.US) dipped 0.52%, Meta (META.US) fell 1.63%, Amazon (AMZN.US) declined 1.84%, and Alphabet (GOOGL.US) lost 2.18%.

**European Markets** The STOXX 600 edged down 0.30% to 570.58, Germany’s DAX 30 fell 0.76% to 23,949.11, France’s CAC 40 slipped 0.52% to 8,067.53, while the UK’s FTSE 100 rose 0.14% to 9,714.96.

**Commodities** Oil prices retreated amid a stronger dollar and oversupply concerns, snapping a four-day rally. WTI crude for December delivery fell 0.8% to $60.56/barrel, while Brent crude for January dropped 0.7% to $64.44/barrel.

**Cryptocurrencies** Bitcoin breached the $100,000 psychological level for the first time since June, sliding over 6.5% intraday and dragging down related stocks. Ethereum plunged nearly 10% to $3,296.

**Currencies & Metals** The ICE Dollar Index rose 0.38% to 100.255, while COMEX gold futures fell 1.84% to $3,940.30/oz. Spot silver dropped 1.88% to $47.1735/oz.

**Macro Highlights** - The U.S. government shutdown tied its longest-ever duration, entering its sixth week. Election results in key states may influence budget negotiations. - Bitcoin’s drop below $100,000 reflected waning risk appetite amid AI stock valuation concerns. - Canada’s government unveiled its first budget, projecting a fiscal year deficit of C$78.3 billion ($55.5 billion), up from prior estimates.

**CEO Warnings** Goldman Sachs’ David Solomon and Morgan Stanley’s Ted Pick warned U.S. stocks are "between fair and expensive," predicting a 10–20% correction within 12–24 months. They emphasized such pullbacks are healthy market adjustments.

**Liquidity Pressures** Wall Street anticipates the Fed may inject temporary liquidity as money-market strains persist, with SOFR rates spiking 18 bps last week—the largest non-hike surge since March 2020.

**Corporate Updates** - AMD (AMD.US) beat Q3 revenue estimates ($9.25B vs. $8.7B expected) but its Q4 guidance disappointed, sending shares lower post-market. - Arista Networks (ANET.US) topped Q3 forecasts ($2.31B revenue, +27% YoY) but shares fell 10% after hours. - Tempus AI (TEM.US) reported Q3 revenue up 84.7% to $334.2M, with non-GAAP EPS loss narrowing to $0.11 from $0.24. - "Big Short" investor Michael Burry’s Scion Asset Management disclosed put options against NVIDIA and Palantir, aligning with his recent warnings about AI exuberance.