Ready to launch your business? Get started with the commerce platform made for entrepreneurs. Shopify is specially designed to help you start, run and grow your business with easy customizable themes that let you build your brand, marketing tools that get your products out there. Integrated shipping solutions that actually save you time. From startups to scaleups, in-person, and on the go. Shopify is made for

entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.

Here's your closing bell brief for Thursday, November 20th. I'm Catherine Sullivan for the Wall Street Journal.

U.S. stocks gave up initial strong gains and closed sharply lower today. The NASDAQ, which had been

up over two percentage points, finished down to 0.2%. The S&P 500 was down 1.6%, and the Dow was down

0.8%.

Fears over inflated valuations and aggressive spending by artificial intelligence companies resurfaced and drove the sell-off in big tech.

Adding to the negative sentiment, September's jobs data showed the U.S. added 119,000 positions, beating forecasts and fueling concerns the Federal Reserve may hold

off on cutting rates in December. Among individual companies, Walmart shares rallied, climbing

six and a half percent after the U.S.'s largest retailer reported solid quarterly results,

raised its financial outlook and noted it is gaining market share among higher income shoppers.

Invidio stock initially surged on its record sales and strong guidance,

but the rally evaporated with the chipmaker ending the day down 3%

as investors worried about the valuation of AI companies.

Shares of exact sciences surged 17% after Abbott Laboratories agreed to buy the cancer screening

company in a cash deal worth around $21 billion.

Bath and Body Work stock skidded one quarter after the retailer posted a drop in quarterly

sales and slashed its annual forecast.

And Cracker Barrel shares fell five and a half percent

after shareholders voted to retain the restaurant chains and battled chief executive but ditched a

board member. Heads up, an artificial intelligence tool helped us make this episode by creating

summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

...