Pre-Market Report – Wednesday 5 November: US markets crack | Nasdaq falls 2%

Stocks fell on Tuesday, pressured by declines in artificial intelligence-related names like Palantir, as investors grew increasingly concerned about valuations in the bull market-leading shares.

The S&P 500 declined 1.17% to close at 6,771.55, while the Nasdaq Composite traded down 2.04% to finish at 23,348.64. The Dow Jones Industrial Average lost 251.44 points, or 0.53%, to 47,085.24.

• Wall St falls as bank CEOs warn of possible pullback, sparking tech bubble jitters
• Norwegian opposition complicates Musk's path to $1 trillion pay deal
• UK's Reeves paves way for tax rises in her next budget
• Wall Street heavyweights flag risk of pullback in equity markets

COMPANIES

• Amazon's $38 billion OpenAI deal shows it is no longer an AI laggard
• Pfizer, Novo Nordisk escalate bidding war for obesity drug developer Metsera
• Starbucks' bet on local expertise could help it regain ground in China
• Uber operating profit hit by legal expenses, shares fall

Commodities slip - Gold sold down again - Bitcoin down below $100k - SPI up 18!

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