Stock market today: Dow leads S&P 500, Nasdaq lower, deepening bruising sell-off as rate-cut doubts creep in

Market Overview - US stocks experienced a significant decline, marking the steepest sell-off in over a month, driven by diminishing confidence in a December interest-rate cut following a prolonged government shutdown [1][4] - The Dow Jones Industrial Average fell approximately 1.2%, while the S&P 500 and Nasdaq Composite dropped around 0.6% and 0.4%, respectively, as technology stocks faced pressure after a prior sell-off [1][2] Technology Sector - Tech stocks initially saw a reduction in losses during Friday morning trading, but overall sentiment remained negative, particularly for Tesla, which dropped 1.7% to below $400 following its worst trading day since July [2] - Concerns regarding artificial intelligence have prompted a shift from riskier tech assets to sectors with lower valuations [2] Cryptocurrency Market - Bitcoin fell below $96,000 for the first time in over six months, representing a decline of over 20% from its peak in October [3] Federal Reserve Policy - The Federal Reserve's increasingly hawkish stance has led to reduced expectations for a quarter-point rate cut next month, with traders now estimating less than a 50% chance, down from approximately 95% a month prior [4] - Minneapolis Fed President Neel Kashkari expressed concerns about inflation and noted the resilience of the US economy, contributing to the shift in rate cut expectations [4] Economic Data and Government Shutdown - The recent six-week federal shutdown has left policymakers without clear insights into price pressures and the job market, raising questions about the quality and timing of forthcoming economic data [5]