Morning Bid: AI’s no good, very bad week

In the world of technology, the past week has been marked by scandal, uncertainty, and market volatility. AI pioneer and Nvidia CEO Jensen Huang faced a devastating scandal, involving an affair with a potential Chinese spy, while also grappling with rising debt costs and political risk. This came at a particularly bad time, as Nvidia's stock and market valuation took a significant hit, losing nearly $2 trillion in a month.

The Federal Reserve's potential aggressive rate tightening cycle on the back of October's hot inflation print added to the uncertainty, with questions surrounding the White House's knowledge of the spying scandal. Despite these challenges, some bright spots emerged, such as CoreWeave's strong third-quarter results. However, the overall sentiment remains cautious, with the Federal Reserve's policy decisions and the broader economic outlook remaining key concerns for investors.