Stock Market Newsยท2025-11-08 05:38Market Performance Under Pressure - U.S. stock markets ended the week with mixed results, with the Nasdaq Composite experiencing a notable decline of two-tenths of a percent, marking its largest weekly percentage drop in about seven months, raising concerns about a potential "AI bubble" bursting [2][8] - Four of the "Magnificent Seven" tech giants, including Meta Platforms (META) at +3.3%, Amazon (AMZN) at +9.8%, Apple (AAPL) at +8.4%, and Tesla (TSLA) at +6.3%, are now up less than 10% on the year, indicating broader market weakness [3] Corporate and Sectoral Developments - Pfizer (PFE) successfully acquired weight-loss start-up Metsera for $10 billion, positioning itself strongly in the growing obesity drug market [4][8] - UPS (UPS) grounded its fleet of McDonnell Douglas MD-11 aircraft following a deadly crash in Louisville, Kentucky, indicating a significant operational shift in the aviation sector [4][8] - Nvidia (NVDA) CEO Jensen Huang has requested additional chip supplies from TSMC (TSM) to meet the strong demand for artificial intelligence, highlighting the substantial investment needed for AI infrastructure [5][8] Policy, Pardons, and Geopolitical Tensions - Binance Founder CZ expressed surprise at President Trump's pardon, which could significantly impact the cryptocurrency exchange's U.S. operations [6][8] - The IRS is terminating its Direct File program, a free tax-filing pilot initiated by the Biden administration [7] - Geopolitical tensions are high, with an Istanbul prosecutor issuing arrest warrants for 37 Israeli officials, including Prime Minister Benjamin Netanyahu, and Iranian state media reporting a severe water crisis in Tehran [7]