Market Updates
Wall Street Indexes Halted Multi-Month Advances Amid AI Bubble Jitters
Barry Adams
28 Nov, 2025
New York City
Stocks in New York barely budged on Friday as many investors stayed away for the Thanksgiving holiday.
The S&P 500 index and the Nasdaq Composite barely edged higher above the flatline as trading resumed after Thursday's holiday.
Financial markets are scheduled to close at 1:00 p.m. ET on Friday, and most traders are not expected to return on Monday.
For the week, the S&P 500 and the tech-heavy Nasdaq Composite are likely to be up more than 3%, but they are likely to close down more than 1% in November.
The S&P 500 index is set to halt its advance for the last six months, and the Nasdaq Composite is likely to end a rally over the last seven months.
Benchmark indexes have struggled to advance over the last three weeks amid fears of an AI bubble, macroeconomic uncertainty, and a frozen housing market.
Economists have been warning about a possible negative impact on economic growth and higher-for-longer inflation following the Trump administration's trade policy reversals and aggressive crackdown on immigrants.
In addition, the federal government shutdown led to an economic data blackout, contributing to market jitters and monetary policy uncertainty.
For now, investors are factoring in a 25-basis-point rate cut at the end of the two-day Federal Open Market Committee's meeting on December 10.
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