Stock market today: Dow, S&P 500, Nasdaq slide as tech hit on AI valuation fears, bitcoin dips below $100K

Market Overview - US stocks experienced a significant decline, with the Nasdaq Composite falling over 2%, the S&P 500 down about 1.2%, and the Dow Jones Industrial Average dipping by approximately 0.5% [1] Technology Sector - Wall Street is increasingly concerned that companies may not be performing sufficiently to justify their high market valuations, leading to warnings from major bank CEOs about a potential market correction [3] - Palantir shares dropped nearly 9% despite reporting solid quarterly results, as analysts expressed doubts regarding the stock's high price-to-earnings ratio [3] - Uber reported strong results, but its shares declined, indicating that investors were expecting even more [4] Cryptocurrency Market - Cryptocurrencies faced a downturn, with Bitcoin briefly falling below $100,000, marking its lowest level since June, attributed to concerns over decreasing liquidity amid the ongoing government shutdown [2] Economic Context - Investors are closely monitoring developments in Washington, as the US government shutdown has reached its 35th day, tying the record for the longest shutdown in history, which is delaying the release of key economic data [5] - The shutdown is affecting the release of important economic indicators, including the jobs report expected this week, which is crucial for the Federal Reserve and Wall Street [5] Company-Specific Developments - Attention is focused on AMD's upcoming report, particularly regarding its significant AI deals, as well as reports from Spotify and Supermicro [4] - Norway's sovereign wealth fund announced it would vote against approving Tesla CEO Elon Musk's $1 trillion pay package, leading to a more than 5% drop in Tesla's shares [4]