Stock Market Reversal: Nvidia's Earnings and Rate Cuts Take Center Stage

Several stocks, including Orion, Astronics, Corning, Commercial Vehicle Group, and Verra Mobility, plummeted as investors became uncertain about future rate cuts following a stronger-than-expected jobs report. The report reduced the implied odds of a December interest rate cut to less than 40%, overshadowing stellar corporate performance. The sell-off partly reflects caution regarding high-flying tech valuations in a "higher-for-longer" rate environment.