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Tuesday’s hot inflation print set the tone for the whole session: stocks gave back part of Monday’s rally, the 10-year Treasury yield pushed above 5% for the first time in years, and Nvidia’s sell-off deepened into a two-day rout worth roughly $450 billion. CoreWeave’s earnings beat offered the one bright spot after the close, while bitcoin slipped below $73,000 and Abu Dhabi’s first day of peace talks ended on a cautiously positive note.
Related reading: This morning’s roundup on the hot CPI print, Anthropic’s IPO roadshow and the Nvidia probe and Yesterday afternoon’s roundup on the Monday rally, the oil slide and Anthropic’s IPO plans.
1. Hot CPI sinks stocks as the 10-year yield tops 5%
Stocks closed lower on Tuesday, though well above their session lows. The Nasdaq Composite shed 0.7% after falling as much as 1.7% in early-afternoon trading, while the Dow and the S&P 500 finished down 0.3% and 0.4%, respectively.
October CPI rose 0.4%, above the 0.3% economists expected, and core CPI climbed 0.3% against a 0.2% forecast. Fed Governor Christopher Waller’s suggestion that a hotter print could justify a 50-basis-point December hike kept selling pressure on growth stocks all session.
The bond market did the real talking. The 10-year Treasury yield jumped to an intraday high of 5.03% before settling near 4.98%, up from 4.90% at Monday’s close. Money markets have now fully priced in a quarter-point December hike, with odds of a half-point move at about 10%.
Gold was the day’s other casualty, sliding nearly 3% toward $4,000 an ounce as the dollar jumped and real yields climbed. December gold futures fell to about $4,033, just below Friday’s low, after peaking near $4,146 earlier in the session.
- S&P 500: -0.4% to about 7,522
- 10-year Treasury yield: 5.03% intraday high
- Gold: down nearly 3% to about $4,021
- December hike odds: fully priced, with a 50bp move at 10%
2. Nvidia falls another 5.5% as two-day wipeout nears $450 billion
Nvidia fell 5.47% on Tuesday to close at $168.89, slipping below $170 for the first time since March and extending its decline from the October 6 peak to more than 30%. The stock is now down about 13% over the past year, against an 8% gain for the Nasdaq 100.
The selling is no longer about the chip cycle. President Donald Trump confirmed on Monday that the FBI is examining CEO Jensen Huang’s relationship with Alice Huang, a businesswoman U.S. intelligence officials suspect worked for Beijing. Trump said he spoke to Huang personally and believes him — “he’ll be in good shape,” he told reporters.
Investors are pricing a governance discount, not a demand collapse. Nvidia’s board opened an independent investigation on Sunday, and Reuters reports directors who have worked alongside Huang for decades now face hard questions about their independence. House committee chairmen want Huang at a closed-door briefing on November 18, with a response due by November 11.
The market-cap math is stark. Nvidia has lost nearly $450 billion in two sessions, and Apple retook the title of the world’s most valuable company at roughly $5 trillion. Earnings arrive on November 17 — one week from today — and the stock now sits just above its 52-week low of $164.27.
- Nvidia on Tuesday: -5.47% to $168.89
- Two-day value wiped out: nearly $450 billion
- Decline from October peak: more than 30%
- 52-week low: $164.27, less than 3% below the close
3. CoreWeave beats: revenue jumps 168% and the backlog hits $132.5 billion
CoreWeave reported third-quarter revenue of $3.66 billion after the close, beating Wall Street’s $3.54 billion estimate and up 168% from a year earlier. Adjusted operating income reached $379 million, well above the $200 million to $260 million the company guided in August.
The print matters because CoreWeave has become the market’s stress test for the AI build-out. Its shares have more than halved since August, and its 2032 bonds yielded above 16% last week. The stock rose about 2% in after-hours trading after closing at $48.74.
The debt picture has not gone away. Interest expense hit $846 million in the quarter — more than double the operating profit — and the company posted a GAAP net loss of $709 million. Debt and lease liabilities rose $14.6 billion in the quarter to $66 billion.
What bulls will point to is the demand book. Revenue backlog reached about $132.5 billion, up from $104 billion at the end of June, and CoreWeave raised full-year revenue guidance to $13.0 billion to $13.3 billion. Active power more than doubled this year to over 1.7 gigawatts.
- Q3 revenue: $3.66 billion, up 168% year over year
- Revenue backlog: $132.5 billion
- Q3 interest expense: $846 million, vs $379 million operating income
- Full-year revenue guidance raised to $13.0-$13.3 billion
4. Bitcoin breaks below $73,000 to a three-month low
Bitcoin fell below $73,000 on Tuesday, touching an intraday low of $72,787 — its weakest level since August 20 — after the hot CPI print revived Fed hike fears. Ether dropped about 5% to roughly $2,029, while XRP and Solana fell 4.3% and 5.3%.
The slide is testing a line technicians have circled for weeks. Bitcoin’s 200-day moving average sits near $73,150, and a daily close below $73,000 would open the way toward $70,000, with $68,000 and $65,000 cited as deeper levels. The weekly close on Sunday already finished below the 50-week average near $75,500.
ETF flows tell the same story of steady selling. U.S. spot bitcoin ETFs lost $201 million on Monday, including $213.2 million from BlackRock’s IBIT — the seventh consecutive session of redemptions. The slide triggered $716 million in crypto futures liquidations over 24 hours, $589 million of it long positions.
- Bitcoin intraday low: $72,787, lowest since August 20
- Spot ETF outflows: 7 straight sessions, $201 million on Monday
- 24-hour liquidations: $716 million, mostly longs
- Down from early-October peak: nearly 17%
5. Abu Dhabi talks called “constructive” as Russia hits Ukraine’s power grid
The first day of trilateral talks in Abu Dhabi lasted about four hours, and both sides sounded cautiously upbeat. President Volodymyr Zelenskyy called the format “constructive and quite substantive,” while Secretary of State Marco Rubio described the session as “very productive.”
Day one focused on security guarantees and humanitarian steps, with territory pushed to Wednesday. A U.S. official told reporters both sides have privately shown some flexibility on land swaps, and a pledge modelled on NATO’s Article 5 was not ruled out. The talks are the first three-way meeting since February.
The fighting did not pause for the diplomacy. Russian forces struck five major electrical substations across 10 Ukrainian regions overnight, killing two people and knocking out power as winter approaches. Moscow has said it will not agree to an immediate ceasefire without knowing what comes next.
- Day-one session: about 4 hours, first trilateral since February
- Overnight strikes: 5 substations hit across 10 regions, 2 killed
- Donetsk: Russia controls roughly 80-85% of the region
What to watch
Anthropic is expected to price its IPO on November 18, with a first trade on November 19 under the ticker ANT — CNBC reports the book is already covered across the $70-$78 range, with a retail allocation of about 20%. Nvidia reports earnings on November 17 and Fed meeting minutes arrive on November 18. Producer prices land on Friday. In the Gulf, Trump’s “Project Freedom” mission to guide stranded ships out of the Strait of Hormuz began Monday, and Al Jazeera reports a U.S. warship was hit by Iranian missiles near Jask on its first day. Mississippi’s remaining mail ballots are due today, with certification set for November 13.
With the 10-year yield above 5% and Nvidia down more than 30% from its peak, is this a buying opportunity in AI — or is the market repricing the whole AI funding cycle? Share your view in the comments.
Auto-posted by the Bull Lounge news desk.
Not financial advice.
Sources:
- Investopedia — Markets News, Nov. 10, 2026: Stocks Fall, Treasury Yields Jump as Rate-Hike Concerns Mount
- FXStreet — Gold crashes toward $4,000 as hot US inflation sends Treasury yields above 5%
- Barchart — Gold Slides as the Core CPI Comes In Hot
- New York Post — Nvidia loses nearly $450B in two-day wipeout
- Reuters — Nvidia’s clubby board faces a sticky ‘honey pot’ test
- Motley Fool — Why Nvidia Stock Fell Again on Tuesday
- New York Post — FBI is ‘looking into’ Nvidia boss Jensen Huang’s affair with suspected Chinese spy, Trump says
- Business Wire — CoreWeave Reports Strong Third Quarter 2026 Results
- Barron’s — CoreWeave Earnings Beat Expectations, Assuaging Market Nervousness
- Wall Street Journal — CoreWeave Meets Wall Street Expectations, Shares Rise
- CoreWeave Blog — AI’s Biggest Ambitions Require Hard Work
- CoinDesk — Bitcoin falls to nearly three-month low after disappointing inflation data
- FXStreet — Why is the crypto market down today?
- Market Flux — Bitcoin Drops to Three-Month Low Below $73,000 as Hot CPI Revives Fed Rate Hike Fears
- New York Post — Ukraine-Russia peace talks were ‘constructive and quite substantive,’ Zelensky says
- TBS News — Russia pounds Ukraine’s power grid as talks open in Abu Dhabi
- KVCR / NPR — Russia and Ukraine hold nearly 4 hours of U.S.-mediated talks in Abu Dhabi
- Al Jazeera — Trump’s ‘Project Freedom’: Can US navy ‘guide’ stuck ships out of Hormuz?
- Reuters — Oil falls as Trump downplays prospect of escalation with Iran
- Millennial Investor — Anthropic IPO: $70 To $78 Range And How To Buy Shares
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