TheDrop Market Analysis, 11/20/25

Though Nvidia's earnings report was very strong, the release of September's jobs report weakened stocks, contributing to their inevitable plummeting in share price/valuation over the course of the day.

Nvidia logo.

The Nasdaq Composite led today's losses with its 2.15% decline in point value. The S&P 500 index likewise fell 1.5%, and the Dow Jones Industrial Average appeared to be the most unscathed with its smaller but still notable 0.8% decline. The VIX volatility index surged 11.87%, reflecting today's overall sharp turn downward.

Stocks fell as a result of the late release of the September jobs report, which showed substantially better results than expected in job growth (119,000 new jobs added to the economy), contributing to betting odds for a December interest rate cut falling. This managed to even overshadow Nvidia's very strong Q3 earnings report, which has temporarily eased fears of an "AI Bubble" and Big Tech's gravely overvalued state. Though, Nvidia did show weakness in the China market due to tariff trade barriers.

The Magnificent Seven stocks all fell, even the key winner Nvidia of its very own earnings game. The chipmaker itself fell by a large 3.2%, followed by Amazon's 2.5%, and Tesla's 2.2%. Other tech stocks outside of the Magnificent Seven, like AMD and RGTI, also experienced quite large declines, with some even breaking double-digit decline percentages. In fact, the U.S. stock market's total market fell by around $1 trillion today alone.

Commodities traded firm, with gold rising in value while silver decreasing, both of which by miniscule margins. Cryptocurrencies, meanwhile, continued their downward shift as investors take advantage of their high liquidity. Bitcoin now stands at below $90,000 after falling below $100,000 under two weeks ago.