On 4 November 2025, global equity markets drifted lower: the U.S. S&P 500 and Nasdaq futures edged down while European indices closed in red. A report noted that corporate earnings — particularly in tech — failed to meet lofty expectations, while central bankers signalled enduring rate risks. The mixed backdrop has triggered profit-taking in high-growth sectors and a switch to defensives. Investors now await key U.S. inflation data and earnings updates for fresh cues. Market strategists say a short-term consolidation is more likely than a breakout.