U.S. stocks mixed, Nvidia drags down techs

Lola Evans
12 Nov 2025, 01:42 GMT+10

Influencing the tech sector was an announcement by SoftBank that it had sold off its entire Nvidia holding for $5.83 billion.
"Today's action is all about sector rotation," Angela White, a senior market strategist at Sterling Capital. said Tuesday
The divergent performance sets the stage for a volatile week

NEW YORK, New York - U.S. stocks were fragmented Tuesday with the Dow Jones rising hundreds of points, while the Nasdaq Composite floundered.

Influencing the tech sector was an announcement by SoftBank that it had sold off its entire Nvidia holding for $5.83 billion.

"These tech companies, they're cash flow machines," Bill Fitzpatrick, portfolio manager at Logan Capital Management, told CNBC Tuesday. "They're terrific companies, but the starting point does matter, and given where they're valued today, it doesn't take much – a little bit of negative news – for the sentiment to turn just a little bit and you get an unwind that is more favorable to value equities."

The Dow Jones Industrial Average led the major indices higher, finishing up 559.33 points, or 1.18 percent, at 47,927.96. The blue-chip gauge climbed steadily through the session, touching a high of 47,974.37.

The broader Standard and Poor's 500 edged higher, adding 14.18 points, or 0.21 percent, to close at 6,846.61. The benchmark index traded between 6,806.87 and 6,855.13 on the day.

In contrast, the tech-heavy Nasdaq Composite retreated, falling 58.87 points, or 0.25 percent, to end at 23,468.30. The index continues to face pressure from recent weakness in major technology names.

Traders are now looking ahead to key economic data later this week that may influence the global interest rate outlook and market direction heading into year-end.

"Today's action is all about sector rotation," Angela White, a senior market strategist at Sterling Capital. said Tuesday. "Investors are taking profits from the high-flying tech names that have seen massive runs and are moving into value-oriented blue-chips that are showing strong earnings momentum. It's a vote of confidence in the broader economy, even if it comes at the expense of the megacaps."

The divergent performance sets the stage for a volatile week, with investors keenly awaiting key economic data, including the latest inflation figures, for further direction on the health of the economy and the path of interest rates.

U.S. Dollar Shows Mixed Performance as Swiss Franc Strengthens

The U.S. dollar presented a fragmented picture in Tuesday's trading, firming against several major currencies but facing a sharp sell-off against the Swiss franc and a resilient Euro.

The most significant move was seen in the USD/CHF pair, where the U.S. dollar tumbled 0.53 percent against the Swiss franc to trade at 0.8002. The drop highlights a flight to traditional safe-haven assets amid ongoing geopolitical tensions and market uncertainty.

In contrast, the Euro (EUR/USD) was a notable gainer, climbing 0.27 percent to 1.1587. The common currency found support from hawkish commentary from European Central Bank officials, who signaled a reluctance to begin cutting interest rates in the near term.

"The market is reassessing the interest rate divergence story. The Euro's strength and the Franc's surge suggest traders are betting that other central banks may not follow the Fed as quickly as previously thought," said Michael Tan, a senior forex analyst at Global Capital Partners.

The British pound (GBP/USD) was relatively steady, edging down a marginal 0.03 percent to 1.3168. Commodity-linked currencies were mixed. The Australian dollar (AUD/USD) dipped 0.08 percent to 0.6530, while the New Zealand dollar (NZD/USD) managed a 0.22 percent gain to 0.5657.

Against the Japanese yen, the USD/JPY pair was virtually unchanged, inching down a mere 0.01 percent to hold at 154.10. The US dollar also saw a slight pullback against its Canadian counterpart, with USD/CAD falling 0.08 percent to 1.4009.

Market participants are now looking ahead to key U.S. inflation data due later in the week, which is expected to provide the next major catalyst for the greenback's trajectory.

Key Foreign Exchange Rates Snapshot:

EUR/USD: 1.1587, +0.27 percent
USD/JPY: 154.10, -0.01 percent
GBP/USD: 1.3168, -0.03 percent
USD/CHF: 0.8002, -0.53 percent
USD/CAD: 1.4009, -0.08 percent
AUD/USD: 0.6530, -0.08 percent
NZD/USD: 0.5657, +0.22 percent

FTSE 100 Joins European Rally as Asian and Middle Eastern Markets Show Mixed Results

Stock markets in the United Kingdom and continental Europe surged on Tuesday, while trading across Asia and the Middle East presented a fragmented picture, with notable gains in India contrasting with declines in several other markets.

In Canada, the S&P/TSX Composite Index recorded modest gains. The Toronto benchmark closed up 92.62 points, or 0.31 percent, at 30,409.25, supported by strength in financials and energy shares.

London's FTSE 100 was a strong performer, climbing 112.45 points or 1.15 percent to close at 9,899.60. The rally was mirrored across the English Channel, where France's CAC 40 jumped 100.72 points (1.25 percent) and Germany's DAX advanced 128.07 points (0.53 percent). The pan-European EURO STOXX 50 index rose 1.08 percent.

"The synchronized gains in London and major continental bourses suggest a broad, risk-on sentiment is taking hold, likely driven by optimism around corporate earnings and stable interest rate expectations," said Claudia Rossi, a market strategist at Global Equities Partners.

Asian Markets Lack Direction

In Asia, performance was mixed. India's benchmark S&P BSE Sensex continued its record-breaking run, adding 335.97 points (0.40 percent) to close at a new high of 83,871.32. South Korea's KOSPI also posted solid gains, rising 0.81 percent.

However, the momentum was not universal. Japan's Nikkei 225 dipped slightly, down 0.14 percent, while China's SSE Composite fell 0.39 percent. Markets in Taiwan, Indonesia, and Australia also ended the session in negative territory.

Middle East and Africa: A Divergent Picture

Trading in other regions showed clear divergence. In the Middle East, Israel's TA-125 edged up 0.31 percent, while Egypt's EGX 30 fell 0.41 percent.

South Africa's Top 40 Index was a positive standout, gaining 0.41 percent. In Southeast Asia, Malaysia's FTSE KLCI rose 0.46 percent, but Singapore's STI Index was a much stronger performer, climbing 1.20 percent.

The day's varied results highlight the different economic forces at play in regional economies, setting the stage for a week sensitive to local data and global commodity prices.

Comprehensive Global Index Snapshot (Close of Tuesday Session):

Europe & UK