Tech Sell-Off Deepens as Market Awaits Key Economic Data and Nvidia Earnings

Market Performance - The U.S. stock market faced a challenging session on November 18, 2025, with all three major indexes closing lower for the second consecutive day. The Dow Jones Industrial Average fell 1.1% to close at 46,590.24 points, while the S&P 500 slid 0.8% to 6,672.41 points. The Nasdaq Composite dropped 1.2%, closing at 22,708.08 points [1][2][3] Sector Performance - The broader market sentiment remained negative, with decliners outnumbering advancers on both the NYSE and Nasdaq. The CBOE Volatility Index (VIX) surged 12.86% to 22.38, indicating heightened investor anxiety. The technology, materials, financials, and energy sectors were notable underperformers, with ten of the eleven S&P 500 sectors ending in negative territory [3] Major Stock Movements - Nvidia (NVDA) continued its downward trend, with shares declining 3.2% today, bringing its monthly loss to nearly 11%. Analysts expect strong fiscal Q3 earnings driven by robust AI demand, with Stifel raising its price target to $250 and BofA Securities increasing its EPS estimates to a $275 price target [4] - Home Depot (HD) shares slid nearly 4% after reporting weaker-than-expected quarterly earnings and trimming its full-year profit outlook, with Q3 comparable sales rising only 0.2% against a consensus estimate of 1.36% [5] - Amazon.com (AMZN) and Microsoft (MSFT) both experienced downgrades, falling more than 1% after revised ratings from Rothschild & Co Redburn. Cloudflare (NET) dropped over 3% due to global network issues impacting services like ChatGPT [6] Upcoming Market Events - Nvidia's fiscal Q3 2026 earnings report is highly anticipated, scheduled for release after market close on November 19, which is expected to provide insights into AI infrastructure demand [7] - Major retail earnings reports from Walmart Inc. (WMT), Target Corporation (TGT), and others are set for November 19, which will offer critical insights into consumer spending patterns ahead of the holiday shopping season [8] - A series of delayed economic reports, including the September jobs report and FOMC minutes, are expected this week, which could influence investor sentiment and Federal Reserve policy [9]