What's Behind the Selloff in Nvidia Stock?

Following a warm reception from President Trump, Saudi Arabia's Crown Prince Mohammed bin Salman is expected to shift the Kingdom's focus from petrochemicals to technology, which may lead to significant investment opportunities. Experts from Basilinna and the Council on Foreign Relations discuss the implications for investors.

Meera Pandit, Executive Director and Global Market Strategist at JPMorgan Asset Management, expressed concern over the recent rise in unemployment. She indicated that the Federal Reserve may hold interest rates steady in December, with potential gradual cuts next year, likely limited to two or three adjustments. This sentiment reflects broader anxieties regarding the labor market's health.

The U.S. government is considering allowing Nvidia to sell its H200 chips to China, according to sources. This potential decision comes amid ongoing scrutiny of semiconductor sales to China, particularly in light of national security concerns. The H200 chips are significant for AI applications, and their sale could have implications for U.S.-China relations in the tech sector.

A mortgage loan for Chicago’s Bank of America Tower is being refinanced with $700 million in bonds, marking a significant development in the city's struggling real estate market. This deal is noted as the largest mortgage bond transaction in Chicago since the onset of the COVID-19 pandemic, according to sources familiar with the situation.

Andrea Auerbach, Global Head of Private Investments at Cambridge Associates, predicts that private markets will reach their lowest point in 2026, with expectations of improved exit and fundraising activities compared to 2025. This outlook was shared during an interview with Romaine Bostick and Katie Greifeld on 'The Close.'

Connie McDonald and Pam Weekes, co-founders of Levain Bakery, addressed rising food costs and consumer resilience during an interview with Romaine Bostick and Katie Greifeld on 'The Close.' McDonald noted that the desire for treats persists regardless of economic conditions, highlighting the bakery's upcoming cookbook release.

Hedge funds faced significant challenges as they scrambled to cover short positions following a sharp two-day swing in the stock market. On Thursday, they rushed to mitigate losses, only to reverse those positions the next day when stock prices rebounded.

Nvidia CEO Jensen Huang expressed concerns about the company's position amid discussions of an AI bubble, stating that the market did not recognize the company's strong quarterly performance. Huang's comments were revealed in a leaked meeting, highlighting the challenges Nvidia faces despite its recent successes.