Stock market today: Nasdaq, S&P 500, Dow falter in bid to recover from tech-led sell-off

Market Overview - US stocks experienced a setback in their recovery efforts, primarily driven by a tech-led sell-off as investors assessed the job market and the potential of the AI investment boom [1][2] - The Nasdaq Composite led the declines, falling approximately 0.7% shortly after the market opened, while the S&P 500 and Dow Jones Industrial Average dropped 0.5% and 0.4%, respectively [1] Weekly Performance - Stocks are expected to close the week in negative territory, with ongoing concerns about an AI bubble and high valuations in Big Tech [2] - The Nasdaq Composite is projected to record a 2.8% loss for the week, marking its most significant decline since April [2] Company-Specific Developments - Tesla approved a $1 trillion pay package for CEO Elon Musk, setting ambitious growth targets for the company's market value, while Musk is also expected to deliver on promises related to the robotaxi and Optimus humanoid robot initiatives [3] - Tesla shares saw a slight decrease following the announcement [3] Employment Trends - October job cuts reached their highest level for the month in over 20 years, indicating a potential trend towards increased layoffs, which could be the worst year for job losses since 2009 [4] Economic Indicators - The delay in the release of the October jobs report due to a government shutdown has heightened market sensitivity to private data, with investors looking for insights into economic health from the University of Michigan's consumer sentiment reading [5] - Potential positive catalysts for the market include the end of the US shutdown, a possible interest rate cut in December, and Nvidia's upcoming earnings report, although uncertainty remains due to the Supreme Court's review of President Trump's tariff policies [6]