Stock Market Today: Dow Drops 500 Points, S&P 500 Posts Fourth Straight Loss as Nvidia Earnings Loom

U.S. stocks extended their November slide on Tuesday, November 19, 2025, with the Dow Jones Industrial Average (^DJI) shedding nearly 500 points (-1.1%), the S&P 500 (^GSPC) down 0.8% for its fourth consecutive losing session, and the Nasdaq Composite (^IXIC) falling 1.2%. Growing concerns over an AI investment bubble and broader economic uncertainty dominated sentiment, while investors braced for Nvidia’s (NVDA) pivotal earnings report and delayed October jobs data.

Key Index Performance

• Dow Jones: -500 points (-1.1%)
• S&P 500: -0.8% (fourth straight decline)
• Nasdaq Composite: -1.2% (tech-heavy pressure)

The sell-off erased early-session gains, reflecting a clear risk-off mood as markets digest mixed signals on inflation, Fed policy, and corporate spending trends.

Bitcoin Dips Below $90,000 for First Time Since April

Bitcoin briefly traded under $90,000 on Tuesday — its lowest level in seven months — deepening a correction that has now wiped out all of 2025’s gains. The leading cryptocurrency later recovered slightly to around $91,500 but remains down more than 28% from its October peak of $126,000.

The move underscores broader crypto market weakness, with Ethereum, Solana, and major altcoins posting similar losses amid reduced risk appetite.

Nvidia Earnings and Delayed Jobs Data in Focus

Two major catalysts loom:

1. Nvidia Earnings (after the bell Wednesday): The AI chip leader’s results and guidance are seen as a litmus test for the AI investment boom. Any signs of softening demand or margin pressure could accelerate bubble fears.
2. October Jobs Report (delayed due to the recent government shutdown): Originally due earlier, the data is now expected later this week and will influence December Fed rate cut odds (currently ~50%).

Why the Sell-Off?

• Persistent AI bubble concerns after heavy 2024–2025 investment in data centers and chips
• Uncertainty over Fed policy direction and inflation trajectory
• Macro jitters from tariff talks and fiscal policy debates
• Technical breakdowns, including Bitcoin’s breach of key support levels

Despite the pullback, some analysts view the decline as healthy profit-taking after the S&P 500’s 25%+ rally earlier in the year.

In summary, U.S. stocks closed lower for a fourth straight day, with the Dow off 500 points and Bitcoin dipping below $90,000, as investors brace for Nvidia earnings and delayed jobs data amid growing AI and economic uncertainty.