On November 13, 2025, US stocks suffered notable declines, primarily fueled by a significant downturn in the technology sector. The Nasdaq Composite ($IXIC) led the losses, plummeting by 2.3%, while the S&P 500 ($GSPC) and the Dow Jones Industrial Average ($DJI) both witnessed a drop of 1.6%, with the Dow losing 797 points in total. This marked a reversal from the recent gains the indexes had been experiencing.
The backdrop for this market movement included the conclusion of a protracted 43-day US federal government shutdown, following President Trump's signing of a bill late Wednesday. However, uncertainty loomed as key economic data delayed during the shutdown are now deemed permanently impaired and unlikely to be released.
This downturn was particularly severe within the tech sector, which has been a leader for most of the trading year. Esteemed names such as Nvidia (NVDA) and Tesla (TSLA) saw declines of over 3.5% and 6%, respectively. Furthermore, Disney (DIS) also took a hit, dropping more than 8% following disappointing earnings results that sent shockwaves throughout the market.
Investors reacted cautiously amid the signals that economic growth could be stifled due to mixed messages on the Federal Reserve’s potential actions regarding interest rates. Earlier in the week, the Fed began to signal a more hawkish stance, dramatically reducing the probability for a rate cut in December from around 95% to a 50-50 chance.
In parallel to the stock market, cryptocurrencies also faced pressure, with Bitcoin (BTC-USD) dropping below $99,000 for the first time since May, falling about 2%. The decline was attributed to the broader market sell-off and a lack of sustained momentum for Bitcoin following its volatility in October.
Markus Thielen, CEO of 10x Research, indicated that without a clear macro catalyst, Bitcoin and the larger cryptocurrency market may continue to be range-bound, highlighting a bearish scenario if prices dip below $93,000.
Looking ahead, the upcoming October jobs report is expected to lack its unemployment data due to the impact of the government shutdown. This uncertainty regarding the economic outlook adds to the complexity in gauging future Fed decisions on interest rates.
The market remains on edge as it awaits further economic indicators and corporate earnings. Notable earnings reports from companies such as Applied Materials (AMAT) later today may provide some insights into sectors that are currently experiencing a significant decline, particularly in technology.