Telis Demos

But it wasn't just that.

They also wanted out of things that are usually meant to go up when stocks are going down.

Things like Bitcoin and gold.

The week started off with two straight days of sell-offs.

Then Nvidia posted a record $57 billion in revenue for the quarter.

That set off a frantic morning rally on Thursday from Tokyo to New York.

But by the end of the session, the sell-off was back.

Even Nvidia, big as it is, couldn't save the market.

The indexes blew their gains and went back into the red.

AI wasn't the only thing on investors' minds, though.

Another big factor behind the swoon?

A belief that the Fed won't ride to the rescue with another rate cut next month.

That belief firmed up after the delayed, but better than expected, September jobs report.

Good news for job seekers was bad news for risk takers.

One Fed official did make the case for a rate cut on Friday morning, sending stocks higher, where they finished heading into the weekend.

Still, all three major indexes ended the week lower, with the Dow off by 1.9%, the S&P 500 down by more than 1.9%, and the Nasdaq down 2.7%.

On the home front, it was a tale of two home improvement retailers this week.

On Tuesday, Home Depot trimmed its full year outlook after a hoped-for uptick in demand failed to materialize.

The company also raised prices in some categories to help offset tariffs and said the lack of storms weighed on sales for roofing, power generation, and plywood versus last year.

Its shares plunged 6% on Tuesday.