U.S. equities extend multi-day decline

Tuesday, November 18, 2025 at 22:00 UTC+01:00 (+0100), United States, New York

News category : Market Structure and Financial Stability Events

On November 18, 2025 U.S. equity benchmarks closed notably lower as investors continued to reduce exposure to richly valued technology names and prepare for a packed corporate and macroeconomic calendar. The S&P 500 and Nasdaq logged consecutive daily declines, with breadth weak and implied volatility rising as participants increased hedging. Market commentary pointed to concentrated AI-related positions and a cautious stance ahead of major corporate reports and jobs data. The sustained de-risking was a structural market event: it altered intraday liquidity, shifted option skew, and changed financing/hedging flows that influence how subsequent news is priced.

Overall market impact

Mild bearish market impact - strength score : 78/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

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Impacted instruments :

S&P 500

NASDAQ

Dow Jones

Equity futures

VIX

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