The S&P 500 Index ($SPX) (SPY) today is down -0.97%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.29%. December E-mini S&P futures (ESZ25) are down -0.95%, and December E-mini Nasdaq futures (NQZ25) are down -1.34%.
US stock indexes are sharply lower today, with the S&P 500 falling to a 1.5-week low and the Dow Jones Industrials and Nasdaq 100 dropping to 1-week lows. Shares of AI bellwether Palantir Technologies are down more than -7% to lead AI-infrastructure stocks lower today despite reporting better-than-expected Q3 sales. The price-to-sales ratio for Palantir Technologies rose to 85, the highest in the S&P 500, raising concerns about extreme valuations and sparking a long liquidation in the stock. The weakness of the Magnificent Seven megacap technology stocks today is also weighing on the overall market.
