If you thought Take-Two’s latest “delay heist” for GTA VI and Truth Social delivering another hilariously bad earnings report were today’s biggest stories… wrong.

Those things were overshadowed by a report that consumer sentiment is at an all time low... like lower than dot com bubble, great recession, heck even the Great Depression (although the only data they had back then was how long the soup lines were).

The S&P 500 fell 0.7%, the Nasdaq plummeted 1.3%, and the Dow lost 201 points (-0.4%), capping off a week where tech stocks and hope in the American dream raced for the “biggest loser” trophy. The S&P fell more than 2% for the week, the Nasdaq nearly 4%, and even the typically stoic Dow dropped 2%.

You don’t have to look very hard for a scapegoat… The University of Michigan’s latest survey showed consumer sentiment diving to 50.3… just a hair above its lowest level ever. For context, that’s the kind of number we saw back when everyone thought going outside meant instant death. Sentiment’s down 30% year-over-year, which tells you everything you need to know about how the average American feels heading into the holidays.

And it’s not hard to see why. Inflation’s still stalking everyone like Joe Goldberg in “You,” borrowing costs are sky-high, and the government shutdown has officially entered its second month. The Bureau of Labor Statistics couldn’t even release its jobs report again… because, well, no one’s actually working to release it.

And that brings us to your favorite tech stocks. If the market had a group chat, Nvidia would have it’s notifications on “Do Not Disturb.” The chipmaker got lit up another 2% Friday, capping a awful 9% weekly drop. Oracle got destroyed too, down 3% Friday and 10% on the week. Palantir fell from the sky (13% down in five days) while Broadcom shed 7%. Translation: AI valuations are shaking in their boots right now.

The market’s starting to realize you can’t keep inflating AI valuations like a birthday balloon forever… eventually someone’s kid (cough Michael Burry) is gonna pop it.

And then there’s Take-Two. After Rockstar announced GTA VI’s release was punted to November 2026, the stock got torched. You could hear the collective shriek of basement dwellers worldwide. Revenue was up 33% to $1.96 billion, but that’s meaningless when your main product has been “coming soon” longer than the U.S. debt ceiling solution.

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News doesn’t hold positions in companies mentioned in the article.