Wall Street's main indexes have extended losses for a second session, poised for weekly declines due to worries over the economy and overvalued tech stocks.
What Happened
On November 7, 2025, the S&P 500, Nasdaq, and Dow Jones indexes fell sharply, with the Nasdaq on track for its worst week since April's global market plunge. According to Reuters, concerns over weakening economic areas and tech valuations weighed heavily. Bloomberg reported stocks sinking amid a tech rout and government shutdown angst. Yahoo Finance noted markets falling after a steep sell-off, with focus on Musk's pay package and layoffs.
Why
The downturn is driven by economic anxieties, including the ongoing U.S. government shutdown, and fears of overinflated tech valuations. Investors are shifting to bonds amid risk-off sentiment.
Expert Opinion
Market analysts from Bloomberg warn of weakening in key economic sectors, stating, "The final stretch of a risk-off week saw stocks hit by a tech rout."
What to Expect
Continued volatility as the shutdown persists, with potential rebounds if economic data improves or resolutions emerge.