Here's your closing bell brief for Tuesday, November 4th. I'm Catherine Sullivan for the Wall Street Journal.

Caution crept into the market today, with U.S. stocks tumbling in a tech-led sell-off. The NASDAQ-led

the declines falling 2%. The S&P 500 was down 1.2%, and the Dow was down half a percent.

Wall Street's fear gauge, the VIX index of stock volatility, jumped over 10%.

The pullback follows a rapid run-up since April, with some finance executives warning that stocks are vulnerable.

Investors were also unsettled by indications the Federal

Reserve may not cut interest rates next month. Elsewhere, Treasury prices rose, pulling yields lower.

Among individual companies, Palantir stock dropped 8% despite posting record revenue in the third

quarter. So far, the stock has more than doubled

this year and was priced for perfection. Surreptatherapeutics shares tumbled nearly 34% after the

biotech company said results from its trial of therapies for a rare muscle-wasting illness

fell short of statistical significance. Shares of Tesla fell 5% after Norway's sovereign

wealth fund rejected Chief Executive Elon Musk's new $1 trillion pay package. And Pfizer stock fell

almost 1.5% as the drug maker reported lower quarterly profit due to declining demand for its COVID-19 vaccine and antiviral drug.

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.

We'll have a lot more coverage of the day's news on the WSJ's What's News podcast.

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