Good morning from the Financial Times.
Today is Friday, November 21st, and this is your FT News Briefing.
The Nasdaq roller coaster ride is giving everybody motion sickness,
and the US is finally releasing economic data again, but it's a bit hard to parse.
Plus, a peace treaty from Russia and the US isn't getting much traction in Ukraine.
I'm Mark Filipino, and here's the news you need to start your day.
It seemed like for a little bit that Nvidia's strong earnings had bailed out the tech stock sell-off.
On Wednesday, the American chipmaker reported better than expected earnings.
And yesterday morning, the tech heavy Nasdaq surged nearly two and a half percent.
But it all went downhill from there.
The index end of the day pretty much wiping out all its earlier gains, closing down more than 2%.
The S&P 500, which has been mostly propped up by tech stocks, fell a little bit more than 1.5%.
Here to make sense of all this is the FT's markets columnist, Katie Martin.
Hi, Katie.
Hey, hey, hiding.
I'm doing well.
Like I mentioned, risky assets like stocks and crypto have been dipping lately since about October.
But before that, they were going gangbusters.
Can you give us a little context on their performance and what drove that rally?
Yeah.