CNBC Daily Open: From AI enthusiasm to bubble worries in one day

Market Overview - U.S. stocks experienced significant volatility, with sharp mood swings observed across major indices [2][4] - The Nasdaq Composite fell by 2.16% after an intraday high of 2.6%, while the S&P 500 and Dow Jones Industrial Average also saw declines of 1.56% and 0.84%, respectively, after earlier gains [2] Company Performance - Nvidia's stock was particularly volatile, rising by 5% before closing down 3.2%, indicating investor uncertainty despite initial reassurances from CEO Jensen Huang regarding the AI bubble [3] - Other AI-related stocks, such as Oracle and AMD, exhibited similar trading patterns, reflecting broader market concerns about the sustainability of AI valuations [3] Economic Indicators - The September U.S. jobs report exceeded expectations, contributing to market strain and reducing the likelihood of an interest rate cut by the Federal Reserve in December [4] - Investors are now facing high valuations and a diminished outlook for rate cuts, impacting market sentiment as the holiday season approaches [5]