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<ul class="summary-list"><li>The Federal Reserve cut interest rates by 25 basis points on Thursday.</li><li>It follows a 50-basis-point cut in September, with the pace of inflation continuing to cool.</li></ul>Another <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">interest rate cut</a> is headed Americans' way.On Thursday, the Federal Open Market Committee announced a 25-basis-point interest rate cut, following a <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">50-basis-point cut</a> in September. It follows continued data showing inflation is nearing the Federal Reserve's 2% target — the consumer price index, a commonly-watched measure of inflation, <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">rose 2.4%</a> over the year in September.This latest interest rate decision also came two days after Donald Trump <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-victory-impact-investments-costs-housing-taxes-childcare-2024-11">won the presidential election</a>. Trump is expected to implement high tariffs once his term begins, and members of the FOMC will likely begin discussing the impact of the president-elect's policies on the economy and forthcoming interest rate decisions."A victory for Trump could raise doubts over a December cut, and the Fed may strike a more hawkish note as a result," Matthew Ryan, head of market strategy at financial services firm Ebury, said in a statement last week.Trump's victory also throws into question the future of the Fed itself. Trump has previously said that he would like to <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cut-trump-fed-powell-reaction-independence-history-2024-9">have a say in interest-rate decisions</a>, challenging the politically independent nature of the central bank.Fed chair Jerome Powell will likely offer more insight into the Fed's thinking following Trump's victory. He has expressed confidence in the economy's direction in recent months, saying during remarks in late September that "overall, the economy is in solid shape.""We intend to use our tools to keep it there," he said.However, <a target="_blank" class="" href="https://www.businessinsider.com/october-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-11">recent jobs data</a> will make it difficult for the central bank to give a clear vision of its upcoming decisions. The economy added just 12,000 jobs in October, well below the 106,000 forecast, primarily because Hurricanes Milton and Helene — along with the Boeing strike — put people temporarily out of work, artificially driving down the employment figures.It will take time for Americans to feel the impact of interest rate cuts, given the lag in monetary policy, meaning credit cards, housing, and car loans won't see immediate relief.The 25-basis-point cut was in line with market predictions. Still, some Democratic lawmakers urged the Fed to implement another 50-basis-point cut to give Americans continued financial relief. On November 1, Sens. Elizabeth Warren and John Hickenlooper wrote in a <a target="_blank" class="" href="https://www.warren.senate.gov/imo/media/doc/final_-_warren_hickenlooper_letter_to_fed_renovember2024ratecut.pdf">letter</a> to Powell that housing costs "are still too high," and bigger rate cuts are warranted."If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream," they wrote.

The Federal Reserve gives Americans another interest rate cut

<ul class="summary-list"><li>Indexes slipped Thursday as traders focused on remarks from Fed Chair Jerome Powell.</li><li>Powell said the Fed is in no hurry to cut rates, and reiterated the strength of the US economy.</li></ul>Indexes ended lower on Thursday, with the election rally fizzling out as traders digested remarks from Federal Reserve Chair Jerome Powell and assessed the latest inflation data. The S&amp;P 500 and Nasdaq fell more than 0.5%, while the Dow Jones Industrial Average lost over 200 points. The 10-year Treasury yield, meanwhile, remained nearly flat at 4.447%, hovering close to its highest level since July.Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,949.17, down 0.6% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,750.86, down 0.47% (-207.33 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,107.65, down 0.64%</li></ul>The slide comes after Powell signaled the Fed is in no rush to cut interest rates while the US economy remains on solid footing. "The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said during prepared remarks at an event in Dallas. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully."Powell added the US has had the best domestic growth of any major economy, and emphasized the strength of the labor market. He said the October jobs report's slowing job growth was largely due to storm-related damage.Powell's comments come as investors seek hints of the Fed's intended easing path after a 25 basis point cut last week. Trump's election win has sparked worries that inflation could rise again under his proposals for broad tariffs and mass deportations, which could cause the Fed to pause rate hikes, economists say.Traders expect the central bank to cut another 25 basis points at its December meeting before pausing in January, according to the CME <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch tool</a>.Powell's comments also follow the latest inflation reading which shows wholesale prices rose 0.2% in October, according to data from the Bureau of Labor Statistics.The data was in line with expectations but showed inflation remains somewhat sticky, with a year-over-year increase of 2.4%.The core producer price index, which excludes food and energy prices, rose 0.3% in the month and 3.1% year-over-year.Meanwhile, jobless claims data on Thursday, showed weekly claims dropped to their lowest since May, falling to 217,000 last week. That marks a 4,000 decline from the week prior.Here's what else is going on:<ul><li>Investors are underestimating how deep <a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-2025-trump-tariff-inflation-growth-2024-11">rate cuts will be in 2025</a>, Goldman Sachs says.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/electric-vehicle-stocks-trump-end-ev-tax-credit-tesla-rivian-2024-11?_gl=1*1794use*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTYxNjYwOS40MTAuMS4xNzMxNjE3NjM3LjIyLjAuMA..">EV makers slid</a> on report Trump wants to scrap the EV tax credit.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/disney-stock-price-3q-earnings-streaming-profit-guidance-cruise-parks-2024-11?_gl=1*6r1dtf*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTYxNjYwOS40MTAuMS4xNzMxNjE3NjUxLjguMC4w">Disney stock surged</a> as rare three-year forecast sees strong profit growth ahead.</li><li>China's weak economy and record US production will lead to a <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-outlook-supply-crude-prices-us-production-china-opec-2024-11?_gl=1*1he4945*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTYxNjYwOS40MTAuMS4xNzMxNjE3NjcwLjYwLjAuMA..">surplus</a> of one million barrels of oil a day next year, IEA says.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> rose 0.3% to $68.63 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, climbed 0.3% to $72.48 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose fell 0.5% to $2,572 an ounce.</li><li>The 10-year Treasury was nearly flat at 4.447%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was down 1.4% to $87,531. </li></ul>

Stock market today: Indexes fall as Powell says the Fed is in no hurry to cut interest rates

<ul class="summary-list"><li>Indexes rose Thursday to continue a post-election rally after the Fed cut interest rates.</li><li>The Fed cut rates by 25 basis points, a smaller move compared to its September meeting. </li></ul>Indexes ended higher on Thursday, extending a post-election rally after the Federal Reserve delivered a rate cut at the end of its latest policy meeting. The Nasdaq jumped 1.5% to a new record high, while the S&amp;P 500 climbed 0.8% to a new record. The Dow Jones Industrial Index was nearly flat after surging by more than 1,500 points on Wednesday. Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,973.10, up 0.74% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,729.34</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,269.46, up 1.5%</li></ul>Major indexes gained as the Fed <a target="_blank" class="" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">cut rates by 25 basis points</a>, which was widely expected after an initial jumbo 50 basis point cut in September.Chair Jerome Powell said the Fed will continue to be data dependent, but that it is prepared to adjust its easing pace as necessary.Though some noted after the meeting that the Fed's tone may have sounded less confident about the path of inflation, noting "progress" has been made rather than the previous wording of "further progress," analysts were unconcerned."The Committee had used this language as a threshold to start cutting, so we interpret its removal as a reflection of the fact that the cutting cycle is already underway rather than as an indication of reduced confidence in the inflation outlook," analysts from Goldman Sachs said in a Thursday note.CPI data has been slightly sticky above the Fed's 2% target, with the <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">latest report</a> showing inflation cooled in September but less than economists had expected.The labor market, on the other hand, appears to be a smaller source of stress for the Fed, but Powell said it's "prepared to adjust the pace and destination" of easing as the jobs data evolves."There seems to be less anxiety about the risk of rising unemployment and slowing job growth," Fitch Ratings chief economist Brian Coulton said in a Thursday note.The latest employment data, released Thursday, shows weekly jobless claims increased slightly to 221,000, a gain of 3,000 from the week before and in line with expectations.Investors seem hopeful Trump's light regulatory stance and proposals for corporate tax cuts will make for a more friendly business environment. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bull-rally-trump-deregulation-tax-cuts-evercore-2024-11">Evercore ISI this week predicted</a> the S&amp;P 500 to jump 11% by next summer as the rally accelerates in Trump's second term. Powell said the election outcome will have "no effect" on the Fed's policy in the near future and reiterated that the Fed does not speculate on any administration's potential impact on the economy.Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-85-million-profit-trump-president-election-win-2024-11?miRedirects=1">The Polymarket "whale" made a lot more</a> than previously thought betting on Trump to win. </li><li>Stocks are entering "Crazy Town" as valuations near generational highs. </li><li>Stocks tied to Russia rally as Trump's win <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/russia-stocks-trump-win-ukraine-war-putin-zelenskyy-2024-11?_gl=1*7o1w4e*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTAxMTE0MC4zNzguMS4xNzMxMDEzMTI1LjYwLjAuMA..">fuels hopes</a> for an end to the Ukraine war.</li><li>Trump's win created a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/wealthiest-people-in-world-net-worth-increase-trump-victory-stocks-2024-11?_gl=1*1kcs0b*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTAxMTE0MC4zNzguMS4xNzMxMDEzMTUyLjMzLjAuMA..">record $64 billion</a> of net worth for the world's 10 richest people.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> rose 0.5% to $72.06 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, climbed 0.7% to $75.42 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose climbed 1.4% to $2,713.80 an ounce.</li><li>The 10-year Treasury fell nine basis points to 4.335%. </li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was up slightly to $76,505.</li></ul>

Stock market today: Stocks extend post-election rally as the Fed cuts interest rates

<ul class="summary-list"><li>The Federal Reserve is expected to cut interest rates by 25 basis points on Thursday.</li><li>It follows a 50-basis-point rate cut in September — the first cut in four years.</li></ul>The <a target="_blank" href="https://www.businessinsider.com/donald-trump-kamala-harris-election-biggest-moments-photos-2024-10">election</a> isn't the only important event facing Americans this week.On Thursday, the Federal Open Market Committee will announce its next decision on interest rates, and it's likely to be another cut. <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a>, which forecasts interest rate changes based on market predictions, estimated an all-but-certain 25 basis point cut as of Friday afternoon.The Fed <a target="_blank" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">cut interest rates by 50 basis points</a> in September — the first cut in four years and one twice the size of the central bank's typical 25-point increments — following aggressive inflation fighting as the country recovered from the pandemic.Fed chair Jerome Powell said during remarks at a Nashville conference in late September that "if the economy performs as expected," it would mean two more 25-basis-point cuts this year. As the November and December meetings were the only two remaining in 2024 at the time of those remarks, that would mean standard-size cuts at both."Overall, the economy is in solid shape," Powell said. "We intend to use our tools to keep it there."There have been several data releases since the last rate cut that suggest the economy is in good shape. September's jobs report showed unemployment fell that month. Recent price index data shows headline inflation has slowed. Real <a target="_blank" href="https://www.businessinsider.com/gdp-gross-domestic-product-third-quarter-economy-2024-10">gross domestic product</a> rose at an annualized rate of 2.8% in the third quarter, similar to the 3% growth in the second quarter.The last major data release before the meeting held some bad news, but with a catch. <a target="_blank" href="https://www.businessinsider.com/october-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-11">October's jobs report</a> published this past Friday, at first glance, showed a big slowdown. The economy added just 12,000 jobs over the month, far below the forecast of 106,000. However, the data was heavily affected by thousands of workers on strike at Boeing and other companies, as well as Hurricanes Helene and Milton, which likely drove that headline figure artificially down and did not reflect a slowing but still strong underlying labor market.In October, 512,000 people in nonfarm industries didn't work because of bad weather, around eight times the previous 20-year October average of 63,000. The unemployment rate — for which BLS said data collection was less affected by the hurricanes — was unchanged from September's 4.1%.Cory Stahle, an economist at the Indeed Hiring Lab, told Business Insider that October's jobs report "validates the recent rate cut we saw from the Federal Reserve and probably keeps them on their rough timeline with continuing to offer cuts to keep the labor market strong."Meanwhile, inflation is near the Fed's target rate of 2%. The personal consumption expenditures price index, which is closely watched by the central bank, increased 2.1% in September from September 2023, a cooldown from the previous 2.3%. Core PCE, which excludes volatile food and energy prices, rose at 2.7% for the third consecutive month. The year-over-year rise in the <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">consumer price index</a> has also slowed down.A cooling job market and slowing price growth gives the Fed "further confidence in their ability to cut rates without reigniting inflation," Julia Pollak, chief economist at ZipRecruiter, told BI.It will take some time for Americans to feel the impact of September's rate cut, along with any upcoming ones, because of lags in industries like housing, cars, and credit cards."Borrowers should understand that 'falling interest rates' are not the same as 'low interest rates,'" Greg McBride, Bankrate's chief financial analyst, said in a commentary. "Quite the opposite, as interest rates are high and will only decline to 'not as high' as 2024 comes to a close and we move into 2025."Powell has maintained that he will make decisions solely based on data. Despite the upcoming election this week, he has repeatedly said politics remain separate from the central bank."Our job is to support the economy on behalf of the American people, and if we get it right, this will benefit the American people significantly," Powell <a target="_blank" href="https://www.businessinsider.com/interest-rate-cut-trump-fed-powell-reaction-independence-history-2024-9">said</a> during a September press conference. "It's something we all take very, very seriously. We don't put up any other filters. I think if you start doing that, I don't know where you stop," he added.What are your financial plans if the Fed makes another rate cut? Email these reporters at <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a> and <a target="_blank" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Americans are probably getting another interest rate cut this week — just days after the election

The Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) has started its three-day monetary policy committee (MPC) meeting in Mumbai on Tuesday. The meeting will conclude on Thursday, when the RBI will announce its decisions on the <keyword id="20094323" type="General" weightage="100" keywordseo="repo-rate" source="keywords">repo rate</keyword> and other matters. The repo rate, which has been maintained at 6.5 per cent since it was last increased in February 2023, is widely expected by experts to remain unchanged for the ninth consecutive bi-monthly policy review. Experts highlight that <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> in India remains above the RBI's target range, making it unlikely that the central bank will implement policy cuts until inflation reaches the target of 4 per cent. However, the expert added that the RBI may consider rate cuts in the October meeting. Banking expert Ashutosh Khajuria commented: "Monetary Policy Committee (MPC) may continue to hold the policy signalling Repo rate and wait for <keyword id="19979707" type="General" weightage="20" keywordseo="Consumer-Price-Inflation" source="keywords">Consumer Price Inflation</keyword> to decisively fall below 4 per cent, the target rate. For the present, the continuation of the current stance is widely expected. MPC in India may change the stance and rate action by the beginning of the second half of the year in their October meeting at the earliest." The experts also noted that while <keyword id="20196112" type="General" weightage="20" keywordseo="core-inflation" source="keywords">core inflation</keyword> has been contained and commodity prices, particularly metals, have dropped by 15-20 per cent from their 2024 peak, food inflation remains a concern and needs to be closely monitored to ensure stability in overall CPI numbers. The Managing Director of a major bank, who preferred not to be named, told ANI: "During the last policy meeting we could see some voting in favour of a <keyword id="19920203" type="General" weightage="20" keywordseo="rate-cut" source="keywords">rate cut</keyword>. At the same time, we could see The Reserve Bank of India's (RBI) Governor Shaktikanta Das on July 11 said it is too early to talk on the interest rate cut due to the uncertain economic environment and inflation remaining close to five per cent. Considering both, our expectation is that the rate cut cycle may start from the next meeting and no change in <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> this time." RBI Governor Shaktikanta Das had also emphasised in the last policy briefing that food inflation is still a concern and that the regulator is not in a hurry to make a decision on rate cuts. A recent report by the State Bank of India (SBI) also noted that Consumer Price Inflation in India is expected to remain around 5 per cent for the financial year 2024-25, except for the months of September and October.

Repo rate cut unlikely in ongoing MPC meeting, but RBI may change it during October policy review: Experts

<ul class="summary-list"><li><keyword id="19912297" type="General" weightage="100" keywordseo="Nvidia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nvidia" meta.hostid="261" meta.entityid="Nvidia">Nvidia</keyword>'s stock fell 9.5% due to concerns about AI and the <keyword id="20335130" type="General" weightage="20" keywordseo="US-economy" source="keywords">US economy</keyword>.</li><li>Investors are worried about economic indicators and potential recession signals from the Fed.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-earnings-ai-hype-investors-returns-jensen-huang-big-tech-2024-8">Nvidia</a> has taken two major hits in the last four working days. First, investors punished the company for <a href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8" target="_blank">not beating expectations enough</a> when it reported earnings on August 28. And on Tuesday, its stock slid 9.5%, shedding $278.9 billion in valuation — the biggest single-day loss ever recorded by a US company. The wipeout is tied to concerns, including the health of AI and the US economy. A metric for manufacturing jobs, released on Tuesday, shrank for the third consecutive month, and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-nasdaq-selloff-nvidia-tech-ism-manufacturing-recession-2024-9">both major indices took a hit</a>. There's also bearish sentiment about a US employment employment report later this week. In just two weeks, analysts expect the Fed to <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-corporate-earnings-federal-reserve-slowdown-trivariate-research-2024-9">announce interest rate cuts</a>, which could be larger than they first expected, sending omens about the chances of a recession. At a company level, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-prediction-nvda-sell-stock-market-inflation-rates-outlook-2024-9?utm_medium=ingest&amp;utm_source=markets">one strategist flagged </a>that Nvidia is flashing a big "sell" sign to investors. Bill Blain, the founder of Wind Shift Capital and a longtime financial strategist, wrote in a note on Tuesday that <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-may-lose-ai-inference-market-groq-cerebras-2024-8">Nvidia's soaring valuation </a>has made many of its employees very wealthy. Citing numbers from a recent poll, Blain said that leaves less than a third of Nvidia's staff with "any real daily financial pressure upon them," which should make investors question their motivation and Nvidia's productivity. There were also renewed warnings about <a target="_blank" class="" href="https://www.businessinsider.com/ai-frontier-crowded-winners-losers-2024-8">AI spending</a> and how it will take time to materialize into results for investors. Michael Cembalest, the chairman of market and investment strategy at JPMorgan Asset Management, said investors are looking past GPU sales and focusing on whether the tech giants on Nvidia's customer list can make money from the hundreds of billions they have spent on AI. Blackrock echoed a similar sentiment: Investors are debating whether the dollars in spending will show up in future bottom lines, and how many years it will take. These concerns explain why <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-talks-invests-openai-microsoft-apple-100-billion-valuation-reports-2024-8">Nvidia</a> was not the only chipmaker that took a hit on Tuesday. Intel fell 8.8%, AMD dropped 7.8%, and Qualcomm fell almost 7%. An overall chip index — VanEck Semiconductor — was down 7.5%. Nvidia's <a target="_blank" class="" href="https://www.businessinsider.com/doj-subpoena-nvidia-antitrust-investigation-heats-up-report-2024-9">stock fell 2.4% after hours</a> after the US Department of Justice subpoenaed the company as part of a probe into whether <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-doj-investigation-runai-big-tech-crackdown-antitrust-acquisition-competition-2024-8">it violated antitrust laws</a>. Nvidia's massive valuation drop comes more than two years after <a target="_blank" class="" href="https://www.businessinsider.com/meta-q4-earnings-largest-ever-one-day-wipeout-190-billion-2022-2">Meta lost $237 billion in market value</a> in a single day in February 2022. Apple, which held the record before that, lost $180 billion in one day in September 2020. The 2022 rout was Meta's second time on the chart. In July 2018, the company <a target="_blank" class="" href="https://www.businessinsider.com/facebook-stock-price-earnings-report-market-value-on-pace-for-record-drop-2018-7">shed $119 billion in market cap</a> in a single day after reporting slowing growth in its second-quarter earnings. It was the largest one-day market cap slump at the time. Correction: September 4, 2024 — Because of an editing error, an earlier version of this story misstated when Nvidia most recently reported its earnings. It was on August 28, not September 28.

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