It was supposed to be a救market moment. Nvidia Corp. (NVDA), the AI chip powerhouse that basically carries the stock market on its shoulders these days, delivered exactly what Wall Street wanted: crushing earnings, revenue that sailed past estimates, and optimistic guidance about the future. And yet, the selloff just kept going.

The Nasdaq 100 finished Thursday down 2.2%, marking its worst day in over a month. Tech stocks continued their slide as investors wrestled with questions about whether valuations have gotten too stretched and what the Federal Reserve might do next. Apparently even Nvidia's star power has limits when broader sentiment turns sour.

If you think tech stocks had it rough, though, take a look at crypto. Bitcoin (BTC) cratered to nearly $80,000 by Friday, a stunning fall of more than 35% from the record highs it hit just last month. The digital asset shed over 10% this week alone as exchange-traded funds saw persistent outflows. That's quite the turnaround for something that was riding high on institutional enthusiasm just a few weeks ago.

Then came the jobs report, fashionably late by six weeks thanks to the federal shutdown. The September numbers were... complicated. Employers added 119,000 jobs, which sounds great—more than double what economists predicted. But the unemployment rate climbed from 4.3% to 4.4%, the highest reading since late 2021. Strong hiring alongside a rising unemployment rate? That's the kind of mixed signal that leaves markets scratching their heads.

Speaking of confusion, watch what happened to rate-cut expectations: They sat at just 25% on Thursday, then rocketed above 70% by Friday after dovish comments from New York Fed President John Williams and Governor Stephen Miran. That kind of whiplash tells you everything about how jittery markets are right now. Everyone's parsing every Fed syllable for clues.

Beyond the trading floors, ordinary Americans are feeling pretty grim. The University of Michigan's Consumer Sentiment Index landed at 51 for November—the second-lowest reading in more than 70 years. Director of Survey of Consumers Joanne Hsu noted that households remain discouraged by persistent high prices and weakening incomes. Buying conditions for big-ticket purchases plunged more than 10 points, and even wealthier households with more stock market exposure reported diminished confidence as equities tumbled.

There was at least one bright spot: Healthcare stocks kept climbing. Eli Lilly & Co. (LLY) made history by becoming the first pharmaceutical company ever to hit a $1 trillion valuation, proving that not every corner of the market is caught up in the tech doom spiral.