Stocks Slide as Valuation Concerns Spark Broad Market Sell-Off

The Canadian Vanguard Stock Market Report – Tuesday, November 4, 2025 Edition

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The Toronto Market

The S&P/TSX Composite plunged -497.24 points, or -1.64%, to close the session at 29,777.82. The index went down almost 500 points today reflecting the heavy selloff at the market today.

                                                                                                                                                                           

Today’s Market Statistics:  The issues that declined (Decliners) outnumbered those that gained (Advancers). There were four Decliners for every Advancer. In actual numbers, there were 1,652 Decliners to 416 Advancers, an exact Decliner to Advancer ratio of 4.00-to-1.0, while 115 stocks remained Unchanged.

There were 45 new 52-Week highs and 34 new 52-Week lows, compared with 206 new 52-Week Highs and 30 new 52-Week Lows recorded yesterday.

The total trading volume on the TSX reached 421,641,845 shares, down 2% from 430,355,072 shares traded yesterday.

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The US Markets

All major U.S. stock indexes finished in the red today. The Dow Jones Industrial Average fell 251.44 points, or 0.53%, to close at 47,085.24. The S&P 500 declined 80.42 points (–1.17%) to end the session at 6,771.55, while the Nasdaq Composite dropped 486.09 points (–2.04%) to finish at 23,348.64.

The Russell 2000, which tracks small-cap stocks, slid 43.90 points (–1.78%) to 2,427.34, snapping a three-session winning streak.

It was a broadly negative trading day, as major indexes fell sharply—highlighted by the Nasdaq’s more than 2% decline and the nearly 2% drop in the Russell 2000.

     

Today’s Market Statistics

New York Stock Exchange (NYSE): Declining issues outnumbered advancers by roughly five to two. A total of 3,087 stocks fell, while 1,261 advanced, producing a decliner-to-advancer ratio of 2.45 to 1, with 319 issues unchanged.

The NYSE recorded 68 new 52-week highs and 178 new 52-week lows, compared with 202 highs and 142 lows in the previous session — a notable shift toward weakness.

Total trading volume reached 5.87 billion shares, about 5% lower than 6.17 billion shares traded yesterday.

NASDAQ: Decliners also led advancers by a wide margin, roughly three to one. There were 3,627 decliners versus 1,143 advancers, resulting in a 3.17-to-1 decliner-to-advancer ratio, with 239 issues unchanged.

The exchange posted 73 new 52-week highs and 303 new lows, compared with 160 highs and 217 lows in the prior session. The sharp rise in new lows points to growing bearish sentiment amid today’s broad market sell-off.

Total NASDAQ trading volume totaled 10.58 billion shares, about 1% below yesterday’s 10.68 billion shares, essentially unchanged from the prior day’s pace.

Market Wrap-Up Report

U.S. stocks declined across the board on Wednesday, with the Dow Jones Industrial Average outperforming its peers amid a broad sell-off that hit technology and small-cap shares hardest.

The NASDAQ Composite and Russell 2000 bore the brunt of the downturn as investors rotated out of high-growth and AI-related names. Among the day’s weakest sectors were Technology (–2.36%), Basic Materials (–2.24%), and Consumer Discretionary (–1.57%). The heavy selling reflected renewed concerns over lofty valuations in growth-oriented stocks.

The decline was sparked in part by Palantir Technologies Inc. (PLTR), whose shares dropped roughly 8% after reporting strong third-quarter earnings Monday evening. The stock’s post-earnings slide extended into the regular session, triggering a wave of selling across other AI and data-center names. Advanced Micro Devices (AMD) also tumbled in after-hours trading despite delivering solid results, further pressuring the sector.

In contrast, several healthcare stocks held up well, defying the broader downturn. Notable gainers included McKesson (MCK), Cardinal Health (CAH), and Genedx Holdings Corp (WGS). Outside of healthcare, Celsius Holdings (CELH), Fabrinet (FN), and Xometry (XMTR) also showed relative strength and may warrant attention in the near term.

Despite today’s sharp pullback, the broader market uptrend remains intact. The current move appears to be a deep but potentially healthy pullback within the ongoing rally. However, if selling pressure persists, it could evolve into a market correction. Investors are advised to stay alert, manage risk carefully, and be prepared to adjust positions quickly if volatility continues.

Commodities and The Market

Oil Price:  US Oil prices fell about 0.8% to $60.56 earlier in the day. US Oil price was at $60.47 per barrel, as of the time (11:30 pm ET, Tuesday) of this post update.

Gold price is up $30.90, or 0.79%, at $3,991.70, while silver price is up $0.31, or 0.64%, at $47.59 per ounce as of the time of this post update.

Bitcoin (BTC-USD) is at $101,631.00, up 1.24% as of the time of this post update.

10 –year Treasury Yield:   The 10-year Treasury yield declined two basis points  to 4.09% earlier in the day. The 10-year yield is at 4.073%, as of the time (11:30 pm ET, Tuesday) of this post update.

After-hours action: Stock Futures are mixed after a tough session of heavy selling. Dow Futures is up 63.00 points or 0.13% vs. fair value. S&P 500 futures is down -5.50 points or -0.08% at 6,798.50 and Nasdaq 100 futures is down -45.50 points or -0.18% at 25,531.50 as of the time (11:30pm ET, Tuesday) of this post update.

Note: The markets’ performance during the regular market session often bear little or no semblance to the futures readings the previous evening. Please use as data applicable at the time of capture only.

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NOTICE TO READERS 

Our readers are strongly advised to conduct their research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation. Any recommendation is not a guarantee of any particular stock’s future prices, and The Canadian Vanguard accepts no responsibility or liability for investors’ or readers’ purchases.

The Canadian Vanguard’s Stock Market  Reports, https://www.thecanadianvanguard.com/category/stock-markets/ , are composed by senior Financial Industry and Information Technology professionals. We deliberately neither engage nor deploy AI tools to produce data for these reports.

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(c) This article is published by The Canadian Vanguard on November 4, 2025.