"But it tumbled on Thursday, November 13, amid a sell-off of tech stocks as worries about overinflated values and interest rate cuts grew. Take the S&P 500, which shrank 1.66% to 6,739.49, or the Dow Jones Industrial average, which went down by 1.65% to 47,457.22-both at their lowest in over a month. It was only the day before that the Dow had surpassed 48,000, reaching a new record high. The Nasdaq composite met a similar fate, dropping 2.29% to its month low of 22,870.36."
"Many tech stocks felt the effect. Shares of electric vehicle maker Tesla (Nasdaq:TSLA) dropped 6.64% on Thursday, followed by another 4.78% at one point during after-hours and premarket trading on Friday. Palantir Technologies (Nasdaq:PLTR), which has been repeatedly pointed to as an example of overinflated value, saw its shares fall 6.53% Thursday and an additional 4.30% in after-hours and premarket trading. As of yesterday's closing bell, Palantir was still trading 127.61% up in 2025."
Major US stock indexes fell sharply on November 13 as a tech-led sell-off and rising concerns about overinflated valuations and dwindling prospects for Federal Reserve rate cuts pressured markets. The S&P 500 dropped 1.66% to 6,739.49, the Dow declined 1.65% to 47,457.22, and the Nasdaq fell 2.29% to 22,870.36, all hitting month lows. High-profile tech names including Tesla, Palantir and Nvidia posted multi-percent declines, with Palantir still up 127.61% year-to-date. Nvidia's earlier $5 trillion valuation cooled after SoftBank sold 32 million shares. CME FedWatch showed rate-cut odds falling from over 98% to about 50%.
Read at Fast Company
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