The Economic Times·2025-12-17 16:15Market Overview - U.S. stocks experienced a decline, with the Nasdaq falling sharply due to investor pullback from major technology stocks, reflecting caution amid economic data suggesting slowing growth and uncertainty regarding Federal Reserve rate cuts [1][10] - The Nasdaq was down over 215 points, hovering near 22,896, while the S&P 500 slipped to 6,761, and the Dow remained relatively flat at 48,079, down just 0.07% [1][12] Technology Sector Performance - Selling pressure intensified in artificial intelligence and mega-cap tech stocks, with Nvidia dropping nearly 3%, Tesla sliding more than 1%, and Oracle sinking over 5%, resulting in billions in market value loss [2][8] - The decline in the Nasdaq was driven by heavy volume selling in chipmakers and AI-linked stocks, with Nvidia falling to around $172 and Oracle sliding to $178, marking its steepest single-day drop in weeks [3][14] - Investors are increasingly wary of crowded trades in AI leaders following significant rallies earlier in the year, leading to fast exits from riskier growth names amid hints of economic slowing or prolonged high interest rates [4][14] Economic Indicators - Fresh labor data heightened market anxiety, with the U.S. unemployment rate rising to 4.6%, the highest since 2021, and October payrolls showing a loss of 105,000 jobs, despite November job growth beating expectations [9][10] - The market is closely monitoring Federal Reserve officials' comments for insights on interest-rate policy, with attention turning to the upcoming U.S. CPI report that could influence stock direction [10]