The S&P 500, Dow Jones, and Nasdaq are all down today, with Palantir leading AI-infrastructure stocks lower despite better-than-expected Q3 sales. Valuation concerns, warnings from Wall Street banks, and lower bond yields are contributing to the market decline. US vehicle sales slowed, and there’s a 70% chance of a rate cut at the next FOMC meeting.

The Supreme Court is set to hear arguments on Trump’s reciprocal tariffs. Lower courts have ruled them illegal, and a decision is expected soon. Q3 earnings season is strong but with slower profit growth. The US government shutdown continues, impacting the economy. Overseas markets are down, with interest rates and bond yields declining.

T-note prices and European government bonds are up amid the government shutdown and economic concerns. The ECB is cautious about growth and inflation risks. Semiconductor and crypto stocks are falling, with Sarepta and Norwegian Cruise Line leading losers. Positive movers include Waters Corp, Henry Schein, and Sanmina. Earnings reports for various companies are upcoming.

Read more at Nasdaq: Stocks Pressured Amid Valuation Concerns