US close: Stocks still weaker on AI bubble fears
By Josh White
Date: Sunday 16 Nov 2025
(Sharecast News) - US stock markets extended their decline on Friday after the previous session's steep selloff, as fading expectations for a December Federal Reserve rate cut and persistent concerns over an AI bubble kept investors on the defensive.
The Dow Jones Industrial Average fell 0.65% to 47,147.48, while the S&P 500 edged down 0.05% to 6,734.11.
The Nasdaq Composite managed a modest recovery, rising 0.13% to 22,900.59 after heavy tech losses on Thursday, when Wall Street recorded its worst trading day in more than a month.
Patrick Munnelly at TickMill said "Wall Street faced a sharp sell-off once again, ending a brief respite that followed the reopening of the US government.
"Hawkish remarks from Federal Reserve officials, combined with anticipation of upcoming economic data, spurred traders to shed riskier assets, ranging from tech stocks to cryptocurrencies."
Crucial economic data still delayed by shutdown
Sentiment remained fragile as the US economic data calendar continued to lag following the recent government shutdown.
October retail sales and producer price index figures, along with September business inventories, were all delayed, limiting fresh clues on underlying economic momentum.
Munnelly noted that "the optimism surrounding the government shutdown's resolution [was] already baked into the market, [and] concerns over lofty valuations reemerged," adding that had "led to a notable pullback in high-flying tech stocks, while some analysts noted a shift toward more defensive sectors."
He also said the S&P 500's recent performance marked "its third drop of over 1% in just two weeks, a stark contrast to the previous three months, during which such declines happened only once."
The absence of domestic data coincided with a round of disappointing indicators from China, where annual growth in industrial production and retail sales sank to 14-month lows and fixed-asset investment recorded its sharpest slowdown in more than five years, adding to global growth concerns.
Expectations around the Fed remained a key driver of risk sentiment.
Munnelly said traders were "split on whether the central bank will cut interest rates in December," recalling Fed chair Jerome Powell's view that another reduction is "not a foregone conclusion."
He said some investors worry that missing economic data due to the shutdown "could bolster arguments for maintaining current policy."
He also pointed to contrasting remarks from policymakers: "The Fed's Musalem urged caution given inflation remains above target, while the Fed's Hammack suggested monetary policy should stay 'somewhat restrictive'.
"On the other hand, the Fed's Kashkari revealed he opposed the last rate cut and remains undecided about December's decision."
Walmart slips on CEO retirement, Applied Materials reverses losses
In corporate news, Walmart slipped 0.31% after announcing that chief executive Doug McMillon would retire at the end of January following more than a decade at the helm.
John Furner would take over and McMillon would remain on the board until the next annual shareholders' meeting to support the transition.
On the upside, Applied Materials rose 1.25% after fourth-quarter results, reversing early losses.
Cidara Therapeutics surged 105.41% after agreeing to be acquired by Merck in a $9.2bn deal.
Warner Bros Discovery advanced 4.02% following a Wall Street Journal report that Paramount, Comcast and Netflix were preparing a joint bid for the company.
Reporting by Josh White for Sharecast.com.
Dow Jones - Risers
Microsoft Corp. (MSFT) $503.29 1.37%
Salesforce.Com Inc. (CRM) $243.66 1.34%
Chevron Corp. (CVX) $157.62 1.31%
Cisco Systems Inc. (CSCO) $77.38 0.80%
Johnson & Johnson (JNJ) $195.93 0.35%
International Business Machines Corporation (CDI) (IBM) $305.69 0.27%
Amgen Inc. (AMGN) $336.00 0.22%
Coca-Cola Co. (KO) $71.16 0.13%
Caterpillar Inc. (CAT) $552.34 0.09%
Dowdupont Inc. (DWDP) $0.00 0.00%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $321.86 -3.21%
Nike Inc. (NKE) $64.17 -2.82%
American Express Co. (AXP) $356.98 -2.07%
JP Morgan Chase & Co. (JPM) $303.61 -1.90%
Goldman Sachs Group Inc. (GS) $790.91 -1.81%
Visa Inc. (V) $330.02 -1.80%
3M Co. (MMM) $167.65 -1.78%
Walt Disney Co. (DIS) $105.80 -1.68%
Home Depot Inc. (HD) $362.36 -1.55%
Intel Corp. (INTC) $35.52 -1.09%
S&P 500 - Risers
Whirlpool Corp. (WHR) $70.28 6.99%
Nektar Therapeutics (NKTR) $53.95 5.06%
Micron Technology Inc. (MU) $246.83 4.17%
HF Sinclair Corporation (DINO) $56.16 3.94%
Valero Energy Corp. (VLO) $181.86 3.40%
Diamondback Energy Inc. (FANG) $149.20 3.34%
Helmerich & Payne Inc. (HP) $27.83 3.15%
National Oilwell Varco Inc. (NOV) $15.69 2.95%
Marathon Petroleum Corporation (MPC) $200.14 2.78%
Oracle Corp. (ORCL) $222.85 2.43%
S&P 500 - Fallers
Kohls Corp. (KSS) $16.75 -4.29%
Bristol-Myers Squibb (BMY) $46.65 -4.07%
Eastman Chemical Co. (EMN) $60.47 -3.94%
DENTSPLY Sirona Inc. (XRAY) $10.52 -3.93%
Paypal Holdings Inc (PYPL) $62.81 -3.86%
Netflix Inc. (NFLX) $1,112.17 -3.64%
Coty Inc. Class A (COTY) $3.50 -3.58%
Lam Research Corp. (LRCX) $148.26 -3.30%
Unitedhealth Group Inc. (UNH) $321.86 -3.21%
Dxc Technology Company (DXC) $12.86 -3.08%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $246.83 4.17%
Workday, Inc. (WDAY) $223.49 3.28%
Intuit Inc. (INTU) $662.41 1.89%
Nvidia Corp. (NVDA) $186.86 1.77%
Biogen Inc (BIIB) $167.55 1.71%
Dollar Tree Inc (DLTR) $104.75 1.55%
Microsoft Corp. (MSFT) $503.29 1.37%
Applied Materials Inc. (AMAT) $226.01 1.25%
Biomarin Pharmaceutical Inc. (BMRN) $54.73 0.94%
Mercadolibre Inc. (MELI) $2,048.89 0.88%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $7.01 -6.15%
JD.com, Inc. (JD) $29.31 -4.56%
DENTSPLY Sirona Inc. (XRAY) $10.52 -3.93%
Paypal Holdings Inc (PYPL) $62.81 -3.86%
Baidu Inc. (BIDU) $116.00 -3.85%
Netflix Inc. (NFLX) $1,112.17 -3.64%
Trip.com Group Limited (TCOM) $72.03 -3.34%
Lam Research Corp. (LRCX) $148.26 -3.30%
Intuitive Surgical Inc. (ISRG) $565.51 -2.83%
Henry Schein Inc. (HSIC) $71.43 -2.60%
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