Stock Market Today: U.S. Stocks Have Worst Performance in Over Month As Traders Trim Rate Cut Bets, Gov't Reopens

Market Overview - The U.S. markets experienced significant declines, with 75.6% of equities falling, marking one of the most bearish days in recent memory [2] - The Russell 2000 index fell by 2.8%, while the tech-heavy Nasdaq Composite dropped 2.29%, experiencing its worst day since October 10 [1][3] - The S&P 500 and Dow also faced declines of 1.66% and 1.65% respectively, ending a two-day rally [1] Technology Sector - Major technology stocks such as Tesla (-7.8%), Broadcom (-5.5%), and Nvidia (-4.8%) contributed to the overall market downturn [3][12] - The technology and industrial sectors are showing significant weakness, with many stocks in the capital markets also declining due to falling cryptocurrency values [4] Economic Indicators - Investors are uncertain about a potential rate cut at the Federal Reserve's upcoming meeting, with odds currently at 49.4% [5] - The reopening of the government is expected to bring delayed economic data, which could influence the Fed's decisions moving forward [6][23] Company Earnings - Virgin Galactic reported an EPS of -$1.09 and expects its first commercial spaceflight by Q4 2026, with most customers anticipated to fly in 2027 [1] - Disney's stock fell 9% after reporting adjusted earnings of $1.11 on $22.46 billion in revenue, missing revenue expectations of $22.75 billion [19][20] - Notable gainers included Cellebrite DI (+23%) and Ondas Holdings (+22.2%), both reporting strong earnings [7] Layoffs and Corporate Actions - Verizon is set to conduct its largest-ever layoff, cutting 15,000 jobs, which is about 15% of its workforce [18] - Bitdeer Technologies saw a significant drop of 18.9% after announcing a $148.4 million direct offering and a $400 million convertible bond sale, leading to concerns over dilution [9]