Stock Bounce Wanes on Fed Angst as Bitcoin Plunges: Markets Wrap

A tech-led rebound in stocks waned as caution prevailed on Wall Street ahead of a deluge of economic data and concerns over the Federal Reserve’s ability to slash interest rates in December. Bonds dropped.

The relief brought by the US shutdown’s end gave way to volatility this week as various Fed speakers threw cold water on bets for further policy easing. Hot areas favored by momentum traders such as artificial-intelligence whipsawed. Bitcoin was barely up for 2025. While the S&P 500 erased a 1.4% slide, most of its shares fell. Nvidia Corp. rose ahead of its earnings.

Stocks bounce fades.

Photographer: Michael Nagle/Bloomberg