U.S. Stocks Closed Lower Across the Board on October 31, Reddit Plunged Over 29% in a Single Day
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All three major US indexes closed lower on October 31, with the Nasdaq down 2.86% leading the decline. The VIX surged nearly 15% in one session while Reddit and Intel each suffered double-digit drops, signaling a sharp spike in risk aversion.
How far did the three indexes fall?
The Nasdaq Composite fell 2.86%, the steepest drop. The S&P 500 lost 1.82%; the Dow shed 1.09%.
The small-cap Russell 2000 dropped 1.71% — large and small caps fell in lockstep.
The VIX — a gauge of market fear — surged 14.71% in a single day. This means → investors rushed to buy downside protection, and anxiety over near-term volatility spiked sharply.
Who got hit hardest, and who bucked the trend?
Among companies worth $10 billion or more, Reddit (RDDT) plunged 29.27%, Intel (INTC) dropped 28.58%, and gene-sequencing firm Illumina (ILMN) fell 18.64%.
In plain terms = losing nearly a third of market cap in one session means the market's short-term view of these companies flipped violently.
On the upside, FedEx Freight (FDXF) rose 14.84%, Regeneron (REGN) gained 13.33%, and Global Payments (GPN) climbed 13.17% — money pulled from high-volatility names flowed partly into stocks that beat earnings expectations.
What happened in commodities and bonds?
Gold futures fell 3.45%; Brent crude slipped 0.86%. Bitcoin was nearly flat, up 0.06% at $76,809.
The 10-year US Treasury yield dropped to 4.930%. This means → capital poured into Treasuries for safety, pushing bond prices up and yields down.
This reflects a risk-off playbook that favored bonds over gold — gold was actually sold off, suggesting some investors were deleveraging and raising cash rather than rotating into traditional havens.
Did global markets follow the sell-off?
Asian markets weakened in tandem: the Nikkei 225 fell 2.12%; Shanghai's composite index lost 1.44%.
Europe was mixed: the Stoxx 600 dipped 0.36%, while the UK's FTSE 100 edged up 0.07%.
In plain terms = the US panic rippled into Asia but drew a muted reaction in Europe — the gap in declines shows each market's different sensitivity to the same signal.
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