Stock Slide Deepens in Run-Up to Nvidia and Jobs: Markets Wrap

Wall Street traders gearing up for Nvidia Corp.’s earnings and the jobs report shunned riskier assets as both events will be key in shaping the global financial outlook throughout the rest of 2025.

Just ahead of tests of the two main pillars of the stock bull market — prospects for artificial intelligence and Federal Reserve rate cuts — equities fell alongside crypto. The S&P 500 slid almost 1% — breaching a technical mark seen by many as a gateway to more losses. The gauge snapped 138 sessions during which it held above the 50-day moving average, its second-longest stretch this century.