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The start of a historically strong month on Wall Street saw stocks falling as traders shunned riskier corners of the market amid a selloff in cryptocurrencies. A rout in Japanese debt rippled through global bonds.

Caution prevailed after a rally that drove the S&P 500 to its longest streak of monthly gains since 2021. The Russell 2000 gauge of small caps slid over 1%. Nearly $1 billion of leveraged crypto positions were liquidated during a sharp drop in prices that brought fresh momentum to a wide-ranging industry plunge. Bitcoin sank to around $85,000.

Despite the reduced appetite for risk, Treasuries kicked off the week on the back foot as Japan’s bond yields climbed after comments from the central bank chief spurred rate-hike wagers.
Equities lost steam after investors wrapped up a choppy November with gains amid growing speculation that the Federal Reserve is more likely than not to ease policy this month.

Today's show features:

• Doug Ciocca, CEO of Kavar Capital, on markets, the economy and investment strategies to close out 2025
• Bloomberg Tech Co-Host Ed Ludlow on Nvidia’s $2 billion investment into chip-design software maker Synopsis
• Christina Lee, Managing Director and Co-Portfolio Manager for US Private Debt Strategy at Oaktree Capital Management on the health of the US credit market
• Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group, recaps Black Friday and breaks down key retail spending trends for Cyber Monday