Market Summary 11/20EUR/AUDOANDA:EURAUDYUHUNGTsaiU.S. markets fell sharply on Tuesday as tech stocks continued to face heavy selling. Traders turned cautious ahead of NVIDIA’s earnings and the delayed September Non-Farm Payrolls report coming Thursday. Dow Jones −1.07% Nasdaq −1.21% S&P 500 −0.83% SOX (Semiconductors) −2.31% Mega-cap tech led the decline: Amazon dropped 4%, while NVIDIA and Microsoft slid more than 2.7%. Bitcoin briefly fell below $90,000, hitting a 7-month low and erasing its YTD gains, showing weaker risk appetite. The upcoming NFP data is seen as key for the Fed’s next move. Rate-cut expectations have cooled to nearly 50/50. Fed Governor Waller said rate cuts may be needed to avoid further stress in the financial sector. President Trump noted he has started interviewing candidates for the next Fed Chair, saying he prefers someone “conventional,” with Fed Governor Waller performing “very well.” Tech sentiment also weakened after a U.S. judge ruled Meta is not a monopoly, avoiding a forced breakup, while highlighting growing regulatory pressure on the sector. According to Check Capital’s Chris Ballard, the pullback is mainly due to the Magnificent Seven taking a break after leading the market for months.