US equities, including Big Tech and crypto stocks, experienced a decline with the S&P 500 and Nasdaq Composite opening in the red. The Bloomberg Mag7 Index was down almost 3%. Factors contributing to the decline include a pessimistic US growth outlook indicated by a drop in consumer confidence and President Trump's statement on tariffs against Mexico and Canada. Nvidia's upcoming fourth-quarter earnings and PCE data are expected to heavily impact market movements. Nvidia has faced challenges this year due to competition from the Chinese AI firm DeepSeek. Despite this, some traders believe Nvidia will rally by the end of the week.



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