CMB Stock News Of The Day 📰🗞️🗞️📈📉

“Wall Street Rebounds as Investors Brush Off Banking Worries and Bubble Talk“ 🚨🚨🚨

After months of smooth sailing, the stock market has hit choppy waters this October. Just a week after the S&P 500 suffered its biggest single-day drop since April — sliding 2.7% — markets were once again under pressure in early Friday trading. High-growth tech and AI favorites led the downturn, with names like Nvidia, Tesla, AMD, and Palantir seeing heavy premarket losses.

Friday’s early sell-off extended Thursday’s late-day reversal, when the S&P 500 flipped from green to red, closing down 0.4%. Futures slipped another 1.2% before rebounding, helped by reassuring comments from President Trump that eased fears of an escalating trade war with China.

Speculative tech sectors, especially quantum computing firms like Rigetti Computing and IonQ, were hit especially hard — a continuation of yesterday’s risk-off trend. The negative sentiment was fueled by renewed anxiety in the regional banking sector after Zions Bancorp and Western Alliance Bank disclosed modest loan fraud losses. While the amounts were small, investors were quick to draw parallels to prior bank collapses, amplifying unease.

Yet, not all the news was bad. Regional lenders Truist, Regions, and Fifth Third helped calm nerves with stronger-than-expected quarterly earnings and lower credit loss provisions.

Beyond equities, safe-haven assets gained traction. Gold surged past $4,350 — up 18% this month — while Bitcoin hovered around $105,000 and Ethereum held above $3,700. Market volatility also climbed, with the VIX reaching its highest level since April.

Despite the turbulence, the broader picture remains stable: the S&P 500 has essentially returned to where it stood a week ago, and near its late-September levels.