On 6 November 2025, U.S. major stock indexes dropped amid renewed concerns over stretched tech and AI valuations. The Nasdaq Composite fell ~2%, and the S&P 500 was down ~1.2%, driven by weak private‑sector job‑cut data and a 153,000 figure for October terminations—the worst for that month since 2003. With the Federal Reserve constrained by a U.S. government data blackout, investors shifted toward safe‑havens.