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Market Recap and Key Highlights: Last Week’s Volatility Reversed

Last week, the financial markets experienced a notable decline, with the S&P 500 dropping by 2% and the NASDAQ plunging nearly 3%. These losses mirrored growing concerns about an overheated AI sector, potential bubbles, and macroeconomic uncertainties. However, the mood shifted dramatically during the Thanksgiving week as investors rallied strongly, completely erasing the prior week's downturn. This impressive rebound was likely fueled by dovish statements from several Federal Reserve governors, suggesting that interest rate cuts could be on the horizon in December, reassuring markets accustomed to volatility.