Tech
Wall Street Falls as Hot October Inflation Revives Fears of a December Rate Hike
US stocks fell on 10 November after October inflation came in hotter than expected, with the Dow down 162 points and Nvidia sliding 6%.
Tech
Wall Street Roars Back as CoreWeave Soars 25% and Chip Stocks Jump — Nvidia Rebounds Too
TL;DR — the direct answer: Wall Street clawed back Tuesday's losses on Wednesday, 11 November, as strong results from CoreWeave eased worries about AI spending. The S&P 500 rose 1.31% to 7,619.38, the Dow gained 254.60 points to 52,486.49, and the Nasdaq Composite climbed 1.60% to 25,466.19 — with chip stocks doing most of the lifting.
What happened: The rebound was led by CoreWeave, the AI cloud provider whose stock has tumbled lately amid concerns about the sustainability of its AI spending. CoreWeave closed up 24.71% at $60.77 — its biggest one-day gain in months — after reporting third-quarter revenue of $3.66 billion, up 168%, and raising its outlook for the year. Chips followed: the Philadelphia Semiconductor Index gained 5.66% to 10,564.11, with Micron up about 12% to $811.30, AMD up 7.3%, Intel up 7.5% and Broadcom up 4.0%. Memory stocks led the way — SanDisk jumped about 14% to lead S&P 500 gainers, and Korea's SK Hynix rose about 10%. Nvidia gained 2.9% to $173.73, recovering part of Tuesday's 5.5% drop, though it fell again in after-hours trading after reports that its board was considering leadership changes. Microsoft was one of the few big losers, down 2.3%.
Why it's trending: Tuesday's sell-off was about fear: hot October inflation revived expectations of a December rate hike, and the Nasdaq fell 0.74% while Nvidia slid 5.5%. Wednesday was about relief — a beaten-up AI name showed a path to profit, and that was enough to send chip and AI stocks sharply higher. The S&P 500 technology index was up nearly 4% in the afternoon, on track for its biggest daily percentage gain since August, and the Nasdaq 100 rose 2.28%. The bond market was closed for Veterans Day, so the rate story paused for a day — traders now fully price in a rate hike of at least a quarter point in December, with about a 10% chance of a half point, according to CME FedWatch data. The rally also reversed part of a brutal week: the market has endured a particularly volatile stretch since the Democrats' midterm sweep.
Background / context: The AI trade has been the market's engine and its biggest worry all year. CoreWeave's problem is the same as the industry's: it spends enormous sums building data-centre capacity, and investors have been asking whether the returns justify it. Its results — revenue up 168%, a pro forma operating margin of 10.4%, and about $9 billion of prepayments from customers — answered that question for a day. Nvidia remains the swing factor: the stock had fallen about 10% over two sessions after its board opened an investigation into CEO Jensen Huang, and its third-quarter results on 17 November are the next test. The chip rally was broad rather than Nvidia-led, which is why the index rose far more than Nvidia itself did.
What we know / what's unconfirmed: Confirmed: the closing levels, CoreWeave's results and guidance raise, the chip index move, and the Veterans Day bond-market closure. Unconfirmed: whether the rebound holds. Nvidia fell in extended trading after the close, and the December rate decision still depends on the next round of inflation and jobs data. The deeper question — whether the AI spending boom is sustainable, or a bubble — was not settled by one good earnings report. Traders will watch Tokyo and Seoul, where chip-heavy markets react first, and then Nvidia's own numbers on 17 November.
What happens next: The next catalysts are Nvidia's third-quarter results on 17 November and the next inflation and jobs data before the Federal Reserve's December meeting. If CoreWeave's numbers mark a turn in the AI trade, Wednesday was the day it turned. If they were a one-day relief rally, the volatility of the past week — a 5.5% Nasdaq plunge, a hot inflation print, a board investigation at the world's most valuable chipmaker — is still the story.
Frequently asked questions
Q: How much did US stocks rise on 11 November?
A: The S&P 500 rose 1.31% to 7,619.38, the Nasdaq Composite climbed 1.60% to 25,466.19, and the Dow gained 254.60 points (0.49%) to 52,486.49.
Q: Why did stocks rebound?
A: Strong third-quarter results from CoreWeave — revenue up 168% to $3.66 billion — eased worries about AI spending, sending chip and AI stocks sharply higher.
Q: How much did CoreWeave rise?
A: 24.71% to $60.77, its biggest one-day gain in months, after the AI cloud provider beat expectations and raised its outlook.
Q: Did Nvidia recover?
A: Partly. Nvidia gained 2.9% to $173.73 in regular trading after falling about 10% over the previous two sessions, but fell again in after-hours trading.
Q: What happens next for the market?
A: Nvidia's third-quarter results on 17 November, then fresh inflation and jobs data ahead of the Federal Reserve's December meeting, where a rate hike is now fully priced in.
Sources: Investopedia — Markets News, Nov. 11, 2026: S&P 500, Nasdaq Surge as CoreWeave Paces Big AI Rally, The Company Chronicle — Stocks close higher: S&P 500 +1.3%, Nasdaq +1.6% as CoreWeave revives the AI trade, and Sharecast — US close: Stocks higher as CoreWeave surges, Nvidia rebounds.
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