CNBC Daily Open: Flying blind in markets and the economy

Market Performance - U.S. markets experienced their worst day since October 10, with the Dow Jones Industrial Average dropping 1.65% to 47,457.22 after previously closing above 48,000 for the first time [1] - The S&P 500 and Nasdaq Composite also saw declines of 1.66% and 2.29%, respectively [1] Sentiment on Technology Stocks - The decline in stock prices is partly attributed to a shift in sentiment regarding artificial intelligence, with major tech companies like Nvidia, Broadcom, and Oracle facing significant losses [2] - Oracle's stock has decreased by more than one-third since a 36% surge in September, raising concerns among investors about high valuations and substantial capital expenditures [2] Interest Rate Uncertainty - Uncertainty surrounding a potential interest rate cut in December is negatively impacting market sentiment, with the likelihood of a cut now seen as a "coin toss" compared to a 95.5% chance a month ago [3] - The lack of October's employment and inflation data further complicates the Federal Reserve's ability to assess the economy and make informed decisions regarding monetary policy [4]