Stocks and bitcoin slide as nerves fray ahead of Nvidia earnings
November 18, 2025
WE’LL TIME THAT OUT. COMING UP ON WEATHER WATCH 12 NEW TONIGHT A WARNING ABOUT YOUR MONEY. 12 NEWS HAS BEEN INVESTIGATING SCAMS USING BITCOIN ATMS. ONE INVOLVES SCAMMERS POSING AS POLICE THREATENING TO ARREST IF YOU DON’T PAY UP. TONIGHT, TWO WOMEN SHARE THEIR STORY WITH INVESTIGATIVE REPORTER JAMES STRATTON AS LAWMAKERS WORK TO STOP THE FRAUD FROM HAPPENING. I’M SERGEANT WILL COLLINS WITH THE MILWAUKEE COUNTY SHERIFF’S OFFICE. THE VOICEMAIL SOUNDS LEGITIMATE. THIS IS A PERSONAL AND URGENT MATTER. IT’S IMPORTANT THAT I SPEAK TO YOU AS SOON AS POSSIBLE. LEFT ON THE PHONE OF A WOMAN WHO RECENTLY MOVED OUT OF STATE FROM MILWAUKEE, SAYING SHE MISSED JURY DUTY AND NEEDED TO PAY UP OR GET ARRESTED. SHE DIDN’T WANT TO SHOW HER FACE, BUT WANTED TO SHARE HER STORY TO WARN OTHERS. BAD ACTORS TAKING ADVANTAGE OF GOOD PEOPLE. AND THERE’S GOT TO BE SOME WAY, SHAPE OR FORM TO CATCH ANY OF THEM. WHILE ON THE PHONE, SHE CLAIMS SHE WAS TRANSFERRED TO DIFFERENT PEOPLE SENDING THESE DOCUMENTS WITH GOVERNMENT SEALS AND COURT CASE NUMBERS, EVENTUALLY INSTRUCTING HER TO GO TO A BITCOIN ATM SIMILAR TO THIS ONE TO SEND $14,900 TO AVOID ARREST. IT WAS JUST THE FEAR, NUMBER ONE, THAT IT WAS A PERFECT VULNERABILITY. AND SHE IS NOT ALONE. ANOTHER WOMAN WE SPOKE WITH DRAINED MOST OF HER SAVINGS, LOSING $6,000. IT’S A LOT OF MONEY TO ME. YEAH. YEAH, IT WAS OUR SAVINGS ACCOUNT OR CHECKING ACCOUNT, YOU KNOW, THAT WE USE TO PAY BILLS WITH AND STUFF LIKE THAT. IN HER CASE, A PERSON CLAIMING TO BE A DETECTIVE TOLD HER SOMEONE OPENED A PAYPAL ACCOUNT IN HER NAME, AND HER ACCOUNTS WERE HACKED, AND SHE NEEDED TO CONVERT HER CASH TO BITCOIN TO PREVENT FRAUD. WE CALLED THE PEOPLE BACK WHO CALLED THESE WOMEN ONE WITH MILWAUKEE COUNTY SHERIFF’S DETECTIVE. ARE YOU ARRESTING MILWAUKEE COUNTY SHERIFF’S OFFICE? CIVIL DIVISION. UNFORTUNATELY, WE’RE UNAVAILABLE TO TAKE YOUR CALL RIGHT NOW. THAT’S THE SAME VOICE AFTER WE LEFT A MESSAGE, DETECTIVE JAMES CAREY FROZE THAT PHONE NUMBER. SUBSCRIBER INFORMATION TO FIGURE OUT WHOM IT BELONGS TO. DETECTIVE CASEY SAYS MCSO INVESTIGATES ABOUT 100 OF THESE EACH YEAR, AND THE OFFICE WILL NEVER CALL YOU FOR MONEY. THE OTHER NUMBER, THE NUMBER YOU DIALED IS NOT IN SERVICE AT THIS TIME. THE COMMON THREAD IN BOTH SCAM CASES, A BITCOIN OR CRYPTO ATM. AN ATM THAT ALLOWS PEOPLE TO INSERT CASH TO CONVERT IT TO CRYPTOCURRENCY, A DIGITAL FORM OF MONEY INSTANTLY SENDING PAYMENTS NOT BACKED BY BANKS. NOT REGULATED. SO PAYMENTS TEND TO BE UNINSURED, MEANING VICTIMS CAN LOSE EVERYTHING. THE FRAUD IS SURGING ACROSS THE COUNTRY. A 99% INCREASE IN COMPLAINTS FROM 2023 TO 2024, AND VICTIMS LOST $246 MILLION, ACCORDING TO FBI NUMBERS. LAWMAKERS IN MADISON ARE INTRODUCING NEW LEGISLATION AIMED TO STOP FRAUD USING BITCOIN ATMS. RIGHT NOW, THESE UNREGULATED CRYPTO KIOSKS ARE BEING USED FOR CRIMINAL ACTIVITY AND SCAMS. AND THAT’S NOT RIGHT. THE LEGISLATION, INTRODUCED BY STATE SENATOR AND REPRESENTATIVE RYAN SPOUT, WILL REQUIRE THE OPERATOR ISSUE A REFUND IF THE CUSTOMER IS SCAMMED USING A CRYPTO ATM. THE BILL WILL ALSO REQUIRE THE CRYPTO ATM OPERATOR TO KNOW THEIR CUSTOMERS, GIVING AUTHORITIES THE NAMES AND CONTACT INFO FOR SCAMMERS AND VICTIMS. WE’RE GOING TO HAVE MORE INFORMATION, MORE DOCUMENTATION FOR LAW ENFORCEMENT TO GO OUT THERE AND PROSECUTE THE ACTUAL CRIMINAL WHO’S BEHIND THE SCHEME, PLUS LIMIT THE FEES OPERATORS CAN MAKE AND HAVE AN ON SCREEN AND PRINTED SIGN LIKE THESE WARNING OF SCAMS. AND THERE WAS NOTHING LIKE THAT ON THE MACHINE. WOULD THAT HAVE STOPPED YOU IN YOUR. YES, IT WOULD HAVE. YES IT WOULD HAVE. THE GOAL TO STOP SCAMS USING CRYPTO ATMS. IT’S EXTREMELY VIOLATING AND SHAMEFUL. LIKE, HOW COULD I LET THIS HAPPEN? LIKE HOW? THAT’S THE QUESTION, RIGHT? HOW DOES THIS HAPPEN, JAMES? THE STATE IS ALREADY CRACKING DOWN ON THESE CRYPTO ATMS. THANKFULLY, THE STATE DEPARTMENT OF FINANCIAL INSTITUTION CHANGED THE RULES LAST WEEK, REQUIRING THAT WARNING SIGNAGE, REGISTRATION OF ATMS AND A $2,000 DAILY LIMIT. THE BILL THAT WE JUST TOLD YOU ABOUT, INTRODUCED IN MADISON, IS MORE STRICT TO PROTECT PEOPLE FROM SCAMS, AND PEOPLE WILL FIND THEMSELVES I
Stocks and bitcoin slide as nerves fray ahead of Nvidia earnings
Updated: 12:28 AM CST Nov 18, 2025
Wall Street kicked off the week on a sour note, with stocks and bitcoin tumbling as a risk-off attitude spread through markets.The Dow closed lower by 557 points, or 1.18%. The broader S&P 500 fell 0.92%. The Nasdaq Composite fell 0.84%.Video above: Lawmakers try to crack down on scams using crypto ATMs with new billWall Street’s fear gauge, the VIX, jumped 13%. CNN’s Fear and Greed index traded in “extreme fear” and hit its lowest level since early April.Stocks fell on Monday as investors’ nerves intensified ahead of two key events this week: Nvidia (NVDA), the star of the artificial intelligence boom, is set to report earnings on Wednesday. And on Thursday, the September jobs report — long delayed because of the government shutdown — is set to be released.These two events will provide more insight about the issues that are “top of mind” for Wall Street, according to José Torres, senior economist at Interactive Brokers.Tech stocks have come under pressure this month as concerns linger about expensive valuations and enormous spending plans by big tech companies. The tech-heavy Nasdaq is down almost 5.5% since hitting a record high in late October.Investors are trying to discern whether the AI trade is on stable foundations, and whether the Federal Reserve will pause its interest rate-cutting cycle at its policy meeting in December.Meanwhile, bitcoin plunged on Monday to below $90,000 for the first time in seven months, erasing its gains for this year. The cryptocurrency has tanked more than 28% in just six weeks after it hit a record high above $126,000 in early October.Video below: Best Money Moves to Make Right Now in a Volatile Economy | Expert Financial AdviceTech and crypto-related stocks led the S&P 500 lower on Monday. Coinbase (COIN), a crypto exchange, fell 7%.The S&P 500 and Nasdaq on Monday dipped below their 50-day moving averages, according to FactSet. The 50-day moving average is a key threshold of support.”While the long-term uptrend is intact, we believe a corrective pullback/consolidation phase is already underway after the market’s six-month winning streak,” Craig Johnson, chief market technician at Piper Sandler, said in a note.Stocks are coming off a volatile week. Tech stocks took a bruising last week before investors swooped in on Friday to buy the dip.Investors this week are gearing up for a potential market-moving event with Nvidia’s earnings. The chipmaker accounts for roughly 8% of the S&P 500’s market value. Nvidia shares fell 1.83% on Monday, weighing on the broader market.”The monthly jobs report would normally dominate this week’s economic calendar, but with the AI trade struggling the past couple of weeks, Nvidia’s earnings are once again looking like a key piece of the market’s momentum puzzle,” Chris Larkin, managing director at Morgan Stanley’s E-Trade, said in an email.The recent stock market rally is also being tested as investors adjust to the prospect that the Fed might pause its interest rate-cutting cycle at its policy meeting next month. Traders are pricing in a 45% chance that the Fed cuts rates in December, according to CME FedWatch. That’s down from a 94% chance one month ago.Stocks have rallied on optimism about Fed rate cuts. Nerves are mounting that the central bank may prioritize concerns about stubborn inflation.”Data releases starting this week should provide a clearer picture for one of the key risks over the coming weeks — the December Fed meeting,” Mohit Kumar, chief strategist and economist for Europe at Jefferies, said in a note.Investors this month have also rotated out of high-flying tech stocks and moved into sectors that have lagged behind and look relatively affordable.”This rotation is both expected and welcome, as it should unwind some of the frothiness … and allow this bull market the opportunity to catch its breath before resuming its advance,” Sam Stovall, chief investment strategist at CFRA Research, said in a note.
Wall Street kicked off the week on a sour note, with stocks and bitcoin tumbling as a risk-off attitude spread through markets.
The Dow closed lower by 557 points, or 1.18%. The broader S&P 500 fell 0.92%. The Nasdaq Composite fell 0.84%.
Video above: Lawmakers try to crack down on scams using crypto ATMs with new bill
Wall Street’s fear gauge, the VIX, jumped 13%. CNN’s Fear and Greed index traded in “extreme fear” and hit its lowest level since early April.
Stocks fell on Monday as investors’ nerves intensified ahead of two key events this week: Nvidia (NVDA), the star of the artificial intelligence boom, is set to report earnings on Wednesday. And on Thursday, the September jobs report — long delayed because of the government shutdown — is set to be released.
These two events will provide more insight about the issues that are “top of mind” for Wall Street, according to José Torres, senior economist at Interactive Brokers.
Tech stocks have come under pressure this month as concerns linger about expensive valuations and enormous spending plans by big tech companies. The tech-heavy Nasdaq is down almost 5.5% since hitting a record high in late October.
Investors are trying to discern whether the AI trade is on stable foundations, and whether the Federal Reserve will pause its interest rate-cutting cycle at its policy meeting in December.
Meanwhile, bitcoin plunged on Monday to below $90,000 for the first time in seven months, erasing its gains for this year. The cryptocurrency has tanked more than 28% in just six weeks after it hit a record high above $126,000 in early October.
Video below: Best Money Moves to Make Right Now in a Volatile Economy | Expert Financial Advice
Tech and crypto-related stocks led the S&P 500 lower on Monday. Coinbase (COIN), a crypto exchange, fell 7%.
The S&P 500 and Nasdaq on Monday dipped below their 50-day moving averages, according to FactSet. The 50-day moving average is a key threshold of support.
“While the long-term uptrend is intact, we believe a corrective pullback/consolidation phase is already underway after the market’s six-month winning streak,” Craig Johnson, chief market technician at Piper Sandler, said in a note.
Stocks are coming off a volatile week. Tech stocks took a bruising last week before investors swooped in on Friday to buy the dip.
Investors this week are gearing up for a potential market-moving event with Nvidia’s earnings. The chipmaker accounts for roughly 8% of the S&P 500’s market value. Nvidia shares fell 1.83% on Monday, weighing on the broader market.
“The monthly jobs report would normally dominate this week’s economic calendar, but with the AI trade struggling the past couple of weeks, Nvidia’s earnings are once again looking like a key piece of the market’s momentum puzzle,” Chris Larkin, managing director at Morgan Stanley’s E-Trade, said in an email.
The recent stock market rally is also being tested as investors adjust to the prospect that the Fed might pause its interest rate-cutting cycle at its policy meeting next month. Traders are pricing in a 45% chance that the Fed cuts rates in December, according to CME FedWatch. That’s down from a 94% chance one month ago.
Stocks have rallied on optimism about Fed rate cuts. Nerves are mounting that the central bank may prioritize concerns about stubborn inflation.
“Data releases starting this week should provide a clearer picture for one of the key risks over the coming weeks — the December Fed meeting,” Mohit Kumar, chief strategist and economist for Europe at Jefferies, said in a note.
Investors this month have also rotated out of high-flying tech stocks and moved into sectors that have lagged behind and look relatively affordable.
“This rotation is both expected and welcome, as it should unwind some of the frothiness … and allow this bull market the opportunity to catch its breath before resuming its advance,” Sam Stovall, chief investment strategist at CFRA Research, said in a note.
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