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After a brief and cautious rebound on Wednesday, risk-off sentiment returned sharply on Thursday, with AI-linked stocks leading a broad selloff across Wall Street and renewed pressure hitting crypto markets. Investors grappled with mixed corporate earnings and fresh concerns over the labor market after a private report showed a spike in layoffs last month. Despite clear signs of a cooling job market, comments from Federal Reserve officials dampened hopes for further rate cuts. Chicago Fed President Austan Goolsbee said he remains hesitant to continue the easing cycle, while Cleveland Fed President Beth Hammack echoed that it's "not obvious" the Fed should cut again given the current inflation backdrop. The S&P 500 fell 1%, the Nasdaq 100 dropped 1.8%, and the Dow Jones Industrial Average lost 0.9%. All major sectors traded lower except energy. In earnings news, Robinhood Markets Inc. (NASDAQ:HOOD) plunged nearly 10%, on track for its worst day since April, despite beating Wall Street expectations last quarter. The move extends a recent trend of strong results sparking weak price reactions among high-flying stocks such as Palantir Technologies Inc. (NYSE:PLTR) and Advanced Micro Devices Inc. (NASDAQ:AMD). Palantir slumped for a third straight session and is now down roughly 15% since Monday's close. QUALCOMM Inc. (NASDAQ:QCOM) also topped estimates but slid about 5% after management guided for slightly weaker licensing revenue ahead. Nvidia Corp. (NASDAQ:NVDA) dropped 3% after CEO Jensen Huang warned that the U.S. risks falling behind China in the AI race. In crypto markets, Bitcoin (CRYPTO: BTC) fell 1.7% to around $101,000, resuming its decline after a short-lived pause. Ethereum (CRYPTO: ETH) dropped 4%. Thursday’s Performance In Major US Indices, ETFs According to Benzinga Pro data: The Vanguard S&P 500 ETF (NYSE:VOO) fell 1.1% to $615.85. The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 1% to $468.69. The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) dropped 1.8% to $611.88. The iShares Russell 2000 ETF (NYSE:IWM) sunk 1.8% to $240.41. The Energy Select Sector SPDR Fund (NYSE:XLE) outperformed, up 1%; the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) lagged, down 2.6%. Thursday’s Earnings Movers Robinhood Markets Inc. (NASDAQ:HOOD) QUALCOMM Inc. (NASDAQ:QCOM) IonQ Inc. (NYSE:IONQ) down 1.2% Arm Holdings plc (NASDAQ:ARM) down 2.6% AppLovin Corp. (NASDAQ:APP) up 1.8% Duolingo Inc. (NASDAQ:DUOL) down 26.9% Fortinet Inc. (NASDAQ:FTNT) down 7.2% e.l.f. Beauty Inc. (NYSE:ELF) down 34.5% Joby Aviation Inc. (NYSE:JOBY) down 4.5% Eos Energy Enterprises Inc. (NASDAQ:EOSE) up 1.2% DoorDash Inc. (NASDAQ:DASH) down 15.4% Lyft Inc. (NASDAQ:LYFT) up 7.1% Snap Inc. (NYSE:SNAP) up 10.2% Lucid Group Inc. (NASDAQ:LCID) up 0.3% FIGS Inc. (NYSE:FIG) down 0.9% Fair Isaac Corp. (NYSE:FICO) up 6.5% Centrus Energy Corp. (NYSE:LEU) down 14.5% Dutch Bros Inc. (NYSE:BROS) down 3.0% The Honest Company Inc. (NASDAQ:HNST) down 23.5% HubSpot Inc. (NYSE:HUBS) down 17.8% Redwire Corp. (NYSE:RDW) down 15.6% Sezzle Inc. (NASDAQ:SEZL) down 6.4% AMC Entertainment Holdings Inc. (NYSE:AMC) up 2.6% Root Inc. (NASDAQ:ROOT) down 11.9% Enovix Corp. (NASDAQ:ENVX) down 23.1% Energy Transfer LP (NYSE:ET) down 0.2% Albemarle Corp. (NYSE:ALB) down 0.3% Coherent Corp. (NYSE:COHR) up 14.9% Talen Energy Corp. (NYSE:TLN) down 4.9% Devon Energy Corp. (NYSE:DVN) flat (down 0.02%) Paycom Software Inc. (NYSE:PAYC) down 12.4% American Superconductor Corp. (NASDAQ:AMSC) down 35.0% Celsius Holdings Inc. (NASDAQ:CELH) down 26.5% D-Wave Quantum Inc. (NYSE:QBTS) down 7.5% Oscar Health Inc. (NYSE:OSCR) up 2.3% Vistra Corp. (NYSE:VST) down 3.7% Datadog Inc. (NASDAQ:DDOG) up 19.3% Moderna Inc. (NASDAQ:MRNA) up 2.4% Warner Bros. Discovery Inc. (NASDAQ:WBD) up 0.5% Shift4 Payments Inc. (NYSE:FOUR) up 2.9% Under Armour Inc. (NYSE:UA) down 3.1% CyberArk Software Ltd. (NASDAQ:CYBR) down 2.5% ConocoPhillips (NYSE:COP) down 1.4% NRG Energy Inc. (NYSE:NRG) down 3.9% Jumia Technologies AG (NYSE:JMIA) down 7.3% AstraZeneca plc (NASDAQ:AZN) up 3.6% Smith & Nephew plc (NYSE:SN) up 7.7% Novavax Inc. (NASDAQ:NVAX) up 0.1% YETI Holdings Inc. (NYSE:YETI) up 4.1% DuPont de Nemours Inc. (NYSE:DD) down 1.6% Aspen Aerogels Inc. (NYSE:ASPN) down 42.7% Stocks slated to report earnings after the close include SoundHound AI Inc. (NASDAQ:SOUN), Airbnb Inc. (NASDAQ:ABNB), The Trade Desk Inc. (NASDAQ:TTD), Iris Energy Ltd. (NASDAQ:IREN), Archer Aviation Inc. (NYSE:ACHR), NuScale Power Corp. (NYSE:SMR), DraftKings Inc. (NASDAQ:DKNG), Opendoor Technologies Inc. (NASDAQ:OPEN), Affirm Holdings Inc. (NASDAQ:AFRM), XYZ Corp. (NYSE:XYZ), MP Materials Corp. (NYSE:MP), Take-Two Interactive Software Inc. (NASDAQ:TTWO), Monster Beverage Corp. (NASDAQ:MNST), Innodata Inc. (NASDAQ:INOD), U.S. Rare Earths Inc. (NASDAQ:USAR), Peloton Interactive Inc. (NASDAQ:PTON), Main Street Capital Corp. (NYSE:MAIN), Texas Roadhouse Inc. (NASDAQ:TXRH), AbCellera Biologics Inc. (NASDAQ:ABCL), Sunrun Inc. (NASDAQ:RUN), Wynn Resorts Ltd. (NASDAQ:WYNN), Microchip Technology Inc. (NASDAQ:MCHP), Amprius Technologies Inc. (NYSE:AMPX), Dropbox Inc. (NASDAQ:DBX), StoneCo Ltd. (NASDAQ:STNE), indie Semiconductor Inc. (NASDAQ:INDI), Sweetgreen Inc. (NYSE:SG), Bill Holdings Inc. (NYSE:BILL), Doximity Inc. (NASDAQ:DOCS), and GigaCloud Technology Inc. (NASDAQ:GCT). Read now: Supreme Court May Sink Trump’s Tariffs—But Don’t Expect Them To Disappear Image: Shutterstock
