Traders work on the floor of the New York Stock Exchange (NYSE) on November 13, 2025 in New York City.
Spencer Pratt | Getty Images
US markets had their worst day since October 10th. This means a sharp reversal in the US market. Dow Jones Industrial Averagea day after closing above 48,000 for the first time, fell 1.65% to settle at 47,457.22. on the other hand, S&P500 lost 1.66%; Nasdaq Composite It fell by 2.29%.
Part of the reason for the stock price slump is thought to be an improvement in sentiment toward artificial intelligence. Big tech companies like: Nvidia, broadcom and oracle The stock has fallen by more than a third in the recent past since soaring 36% in September.
Investors appear increasingly concerned about the high valuations of tech companies and the large capital expenditures some companies, like Oracle, have had to take on debt to meet their obligations.
Uncertainty surrounding December’s interest rate cut also depressed Wall Street. It’s a coin toss whether the U.S. Federal Reserve will ease monetary policy at that time, according to the CME FedWatch tool. That’s a big change from a month ago, when traders were pricing in a 95.5% chance of a December rate cut.
The absence of employment and inflation data for October, and likely never to be available, means the Fed lacks visibility into the state of the economy and whether it should try to support the labor market or continue to suppress inflation.
After all, flying blind makes it difficult to see where you’ll land. For now, that applies to both the Fed and investors trying to navigate the still-vague ambitions of tech companies.
What you need to know today
And finally…
DBS Group Holdings CEO Tan Hsu Shan speaks at the Singapore FinTech Festival in Singapore on November 12, 2025.
Bloomberg | Bloomberg | Getty Images
CEO of Southeast Asia’s largest bank says AI implementation is already paying off: “It’s not about hope, it’s about now.”
“The proliferation of generative AI has been transformative for us,” DBS CEO Tan Suchan told CNBC on the sidelines of Singapore FinTech Week. He added that the company is experiencing a “snowball effect” in profits thanks to machine learning.
Tan expects the introduction of AI to increase overall DBS revenue by more than S$1 billion (approximately $768 million) this year, compared to S$750 million in 2024. The assessment is based on approximately 370 AI use cases leveraging more than 1,500 models across the company’s businesses.
— Dylan Butts
