Wall Street Today, Nov. 21, 2025: Nasdaq 100 Rout Deepens as Traders Debate AI Bubble and Wave‑4 Correction
U.S. stocks tumbled Thursday, with the Nasdaq Composite dropping 2.2% after a 5% intraday swing and closing at its lowest since September. Nvidia erased nearly $400 billion in market value despite strong earnings, fueling fears over AI stock valuations. Dow futures edged higher early Friday, but S&P 500 and Nasdaq 100 futures pointed lower. The Cboe Volatility Index hit its highest level since April.