05:05 PM EST, 11/13/2025 (MT Newswires) -- US equity benchmarks tumbled Thursday, with the Nasdaq Composite logging its worst day in nearly five weeks as hopes for an interest cut in December dimmed amid uncertainty around data releases.

The Nasdaq fell 2.3% to 22,870.4, its biggest single-day slump since Oct. 10 and extending its losses to a third consecutive session. The Dow Jones Industrial Average and the S&P 500 shed 1.7% each, to 47,457.2 and 6,737.5, respectively.

The Dow retreated from a record closing level, while the S&P 500 snapped a four-day advance.

Barring energy and consumer staples, all sectors ended in the red, led by consumer discretionary's 2.7% drop, followed by tech's 2.4% loss.

Pessimism gripped Wall Street a day after President Donald Trump signed legislation to end the longest government shutdown in US history, restoring funding after a 43-day lapse that idled federal workers and delayed the release of key economic data.

"Despite the reopening of the government, today's jobless claims and (consumer price index) reports scheduled for release are still delayed, and the (producer price index) and retail sales reports scheduled for tomorrow are likely to be as well," Stifel said in a note. "The first report that will likely be released is the September employment report as the data was collected prior to the shutdown."

The government will release the jobs report for October, but without the unemployment rate, Reuters reported Thursday, citing White House economic adviser Kevin Hassett's interview with Fox News.

The shutdown cost the world's largest economy roughly $15 billion a week, Hassett separately told reporters, citing an estimate by the Council of Economic Advisers, according to the Reuters report.

"When the (Federal Reserve) meets on Dec. 10, it may not have much recent price data, apart from what the Fed itself may have collected from third parties and its own surveying efforts," Macquarie said in a report Thursday. "We suspect that 'missing data' is a factor that may sway the (Federal Open Market Committee) to stay 'on hold' out of a desire to 'slow down when you're driving in a fog.'"

The firm said some third-party data still point to "sticky" inflation.

The probability of a quarter-percentage-point rate cut next month fell to around 52% Thursday from 63% the day before, with the remaining odds in favor of a no-change scenario, according to the CME FedWatch tool.

US Treasury yields were higher, with the 10-year rate up 4.6 basis points at 4.12% and the two-year rate rising three basis points to 3.61%.

Shares of tech bellwether Nvidia ( NVDA ) fell 3.6%, the third-steepest decline on the Dow. Amazon.com ( AMZN ) and IBM ( IBM ) were among the worst performers on the index. Tesla (TSLA), Super Micro Computer ( SMCI ) , and Palantir Technologies ( PLTR ) were among the worst S&P 500 performers.

Tech stocks, especially those tied to artificial intelligence, have been under pressure lately amid concerns around lofty valuations.

In company news, Walt Disney's ( DIS ) fiscal fourth-quarter revenue unexpectedly decreased year-over-year amid declines in its entertainment segment. The media and entertainment giant's shares slumped 7.8%, the worst performer on the Dow and the third-steepest decline on the S&P 500.

Cisco Systems ( CSCO ) was the top gainer on the Dow and the second-best on the S&P 500, up 4.6%. The networking equipment maker late Wednesday posted fiscal first-quarter results that exceeded Wall Street's estimates.

Cisco's ( CSCO ) stronger-than-expected artificial intelligence orders represented a "real surprise," Morgan Stanley said in a note as the brokerage sees a potential rerating given the company's growing AI business.

West Texas Intermediate crude oil was up 0.3% at $58.68 a barrel in Thursday late-afternoon trade.

The International Energy Agency on Thursday raised its global oil supply growth estimates for 2025 and 2026 and warned that market balances appear "increasingly lopsided," with demand lagging.

Gold was down 0.8% at $4,181.10 per troy ounce, while silver dropped 1.9% to $52.44 per ounce.