AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.

The stock selloff came after Nvidia reported a 62% increase in sales of AI data center chips and raised its guidance for the current quarter. In recent sessions, investors have punished big tech, worried that some companies are spending too much on data centers, chips and other AI infrastructure with little hope of recouping their investments soon.

The tides of investor sentiment seem to be shifting, with more investors feeling pessimistic about the future. Just under 50% of U.S. investors are "bearish" about the next six months, according to the most recent weekly survey from the American Association of Individual Investors, with only around 32% feeling "bullish."

The S&P 500, a broad measure of stocks, gained 1.5% as trading opened. The tech-heavy Nasdaq jumped 2%, but later backed down slightly from its high. The Dow Jones Industrial Average rallied 600 points, around 0.8%.

The fact that a small group of consumers is driving growth leaves the economy more susceptible to a downturn. Higher-end households are more vulnerable to a stock market correction, for example.

The U.S. stock market appeared geared up for a rebound after Nvidia’s stronger-than-expected earnings report after th

GE Vernova, the spinoff energy business of General Electric, announced its first onshore wind repower upgrade outside the United States on Wednesday, November 19. The company’s stock rose 7.3% intraday, bringing its year-to-date gain to 80%, continuing its upward trend after hours.

The stock market’s fear gauge spiked to its highest levels in a month. The CBOE Volatility Index, or VIX, surged as high as 28.27 on Thursday, which was its highest intraday level since Oct. 17. It later pulled back to 26.

The seemingly sturdy U.S. stock market has begun to wobble. Its months'-long tech-driven rally may be running out of steam amid growing wariness about the artificial intelligence boom and broader uncertainty about the U.S. economy’s outlook.

US stocks were hammered on Thursday as an abrupt midday reversal in markets followed a blockbuster earnings report from Nvidia and the release of the long-delayed September jobs r