Dow Jumps 3.1% for Its Biggest Gain in 18 Months as Bitcoin Rebounds

U.S. stocks ended Wednesday, Nov. 4, higher, with the Dow Jones Industrial Average up 3.10% for its biggest gain in 18 months while Bitcoin (BTC) rebounded from its session low. Ether (ETH) recovered nearly 10% from its low, and altcoins broadly rebounded.

The S&P 500 advanced 1.65%, and the Nasdaq Composite rose 0.97%. Several AI and data center stocks fell: Marvell Technology dropped 7.08%, Lumentum declined 7.85%, Coherent lost 5.98%, and Cipher Digital slid 19.95%. IREN fell 11.24%, while CoreWeave dropped 9.90%.

Gold (XAU/USD) rose about 3%-4%, moving from roughly $3,940 to above $4,000 and reaching the $4,060-$4,090 range. Oil prices moved lower: West Texas Intermediate fell from around $96 to about $88, while Brent crude dropped from roughly $104 to $94-$95. Both crude benchmarks were down about 8%-10% on the day.

The session brought gains in the three major U.S. stock indexes and a crypto rebound, while gold and oil moved in opposite directions.