Stock Market Today: Sell-Off Includes Bitcoin Names; 'Big Short' Burry Bets Against Palantir, Nvidia

Selling remained heavy on the Dow Jones Industrial Average and other major stock indexes Tuesday, as valuation worries hit high-flying tech stocks. Among the victims, Nvidia (NVDA) and Palantir Technologies (PLTR) fell after "Big Short" investor Michael Burry disclosed bets against the artificial intelligence leaders. Meanwhile, bitcoin stocks felt the pressure on the stock market today.

The Dow gave up 0.6% in afternoon trade with Nvidia its biggest loser. The Nasdaq composite showed a 1.7% drop, and the S&P 500 retreated 1%, with Palantir stock sliding 8%. Small-cap stocks on Tuesday also felt pain, illustrated by the Russell 2000 index giving up 1.4%.

Nvidia gave up more than 3%. Burry's Scion Asset Management disclosed purchases of put options against Nvidia and Palantir late Monday. The firm's quarterly 13F filing with the Securities and Exchange Commission revealed it bought put options amounting to $187 million of Nvidia stock as of Sept. 30 and put options against Palantir valued at $912 million.

Burry, famed for his bet against the housing market in 2008, recently posted messages on X that suggested he is concerned about a market bubble and deals in the AI space.

Broadly in Tuesday's trade, volume was lower on both the Nasdaq exchange and the New York Stock Exchange vs. Monday. On the Nasdaq exchange, falling stocks topped rising issues by more than 3-to-1. On the NYSE, losers beat gainers by nearly 5-to-3.

Cryptocurrency stocks also got hit on Tuesday. Bitcoin improved from earlier lows and toppled nearly 5% to around $101,500 as investors grew weary of risk-on trades amid the scrutiny of current AI stock valuations. It had dipped under the $100,000 price level earlier before retaking the psychological benchmark.

Cryptocurrency platform operator Coinbase Global (COIN) shed more than 6%. Shares fell further below their 50-day moving average in a consolidation pattern with a 444.64 buy point.

Bitcoin miner Mara Holdings (MARA) relinquished nearly 5% and also dug deeper below its 50-day line. Mara stock gave back gains after breaking out of a cup base with a 21.50 entry point. Shares had already triggered the 7% sell rule.

Fellow bitcoin miner Riot Platforms (RIOT) also shed nearly 5% and is back below its 21-day exponential moving average. Shares are extended from the 25% profit zone of a cup base with a 15.34 buy point.

Lastly, CleanSpark (CLSK) lost roughly nearly 5%. The bitcoin mining services provider has fallen 29% from its 52-week high of 23.61, reached on Oct. 15.

Leaders at Goldman Sachs (GS) and Morgan Stanley (MS) voiced their views about a potential significant stock market pullback at a Hong Kong summit Tuesday.

Goldman Sachs Chief Executive David Solomon reaffirmed his recent concern that investors will likely see "a 10% to 20% drawdown in equity markets sometime in the next 12 to 24 months," The Wall Street Journal quoted Solomon as saying at the Global Financial Leaders Investment Summit.

But he also didn't think equities were in immediate danger of such a drawdown, as some stocks are at record highs. "It's a pretty constructive environment," Solomon said.

Morgan Stanley Chief Executive Ted Pick said investors should "welcome the possibility that there would be drawdowns, 10% to 15% drawdowns that are not driven by some sort of macro cliff effect," according to the report.

Both Goldman Sachs and Morgan Stanley beat third-quarter profit and sales estimates in mid-October. Dow stock Goldman is rising around more than 1%% Tuesday in a stage-two flat base with a 825.25 buy point.

Morgan Stanley stock is climbing about 1% and trading near its all-time high of 167.13, reached on Oct. 28. Shares are extended after a relentless climb after a breakout from a double-bottom base in May. Shares rode their 10-week moving average up with two successful tests of the line in October.

Elsewhere Tuesday, the Invesco QQQ Trust (QQQ) fell 1.6% and the SPDR S&P 500 ETF (SPY) gave back 1%.

Meanwhile, the 10-year Treasury yield eased two basis points to around 4.09%. Oil prices fell to around $60.70 a barrel. Bitcoin slumped more than 5% to trade around $101,100.
11:17 a.m. ET
Stock Market Today: Uber Hits A Roadblock
Ride hailing giant Uber Technologies fell more than 6% in heavy volume even after topping third-quarter earnings and revenue expectations.

Its bottom line got a boost from tax and investment benefits, but Uber's operating income missed estimates. Investors may have been further disappointed in its fourth-quarter gross bookings guidance of $52.25 billion to $53.75 billion. And its adjusted EBITDA of $2.46 billion, a measure of profitability, came up shy of the $2.47 billion consensus forecast.

Uber stock undercut its 50-day moving average in a late-stage flat base with a 101.99 buy point.

Bitcoin mining company Hut 8 (HUT) also cut larger morning losses to around 4.5% even after the bitcoin mining infrastructure provider exceeded third-quarter profit and sales projections. The stock has gotten extended and has climbed nearly 150% so far this year.

Norwegian Cruise Line (NCLH) hit rough waters and ceded more than 12% after it missed third-quarter sales estimates and gave full-year 2025 profit guidance that left investors wanting more.

The cruise line stock fell further below its 50-day line and plunged below its 200-day moving average. Shares have lost around 22% year to date.
9:47 a.m. ET
Nasdaq 100 Winners, Losers: Exelon, Micron

Among the Nasdaq 100 stocks, Exelon (EXC) and Marriott International (MAR) climbed more than 2% each, making them some of the best gainers at the market open.

Meanwhile, Micron Technology (MU) and Strategy (MSTR) sold off more than 4% each.
9:06 a.m. ET
Dow Jones Movers: Amazon, Apple, Microsoft

Inside the blue chip index, Amazon (AMZN), Apple (AAPL) and Microsoft (MSFT) were among the early losers in premarket trading.

Amazon shares declined more than 2%, set to end a two-day winning streak that saw the stock break out past a 238.85 buy point.

Apple stock moved down 0.8%, on pace to extend a losing streak to three sessions. And Microsoft stock lost 0.7%, threatening to make it five straight down days.
8:32 a.m. ET
Stock Market Today: Nvidia And Tesla Sell Off

Nvidia shares declined nearly 2% Tuesday morning, threatening to erase a corresponding gain from Monday. The stock made a new high last week and is extended past a recent buy point at 184.48.

Meanwhile, Tesla stock skidded nearly 3% premarket. On Monday, the electric-vehicle giant topped an early buy point at 467, but is set to open below that entry.
8:07 a.m. ET
Stock Market Today: Palantir Sells Off After Earnings

Palantir stock plunged more than 7% Tuesday morning even after the company reported third-quarter earnings and revenue that topped Wall Street targets, boosted by U.S. government and commercial growth. The company's fourth-quarter revenue forecasts also came in above expectations.

In the third quarter, Palantir earnings were 21 cents on an adjusted basis, doubling from a year earlier. Revenue climbed 63% to $1.81 billion, the software maker said.

Analysts expected Palantir to report adjusted profit of 17 cents per share and revenue of $1.09 billion. September-quarter revenue beat estimates by 8%, roughly the same as in the previous quarter.

On Monday, Palantir shares made another new high, with a 3.4% advance. Shares closed about 12% above a 188.20 buy point.

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