Wall Street Has Never Faced This Many Market Forces at Once, NYSE Veteran Says

The S&P 500 fell 1.8% on Friday as veteran NYSE floor trader Peter Tuchman said he cannot tell which force will move stocks next, citing oil above $100, the Iran and Russia-Ukraine conflicts, interest rates and AI spending. CME FedWatch priced 72% odds of a December rate increase, which would make borrowing costlier for listed companies. On Oct. 28, the Federal Reserve held its benchmark rate at 3.75% to 4%, saying inflation remained elevated; Governor Lisa Cook and Cleveland Fed President Beth Hammack voted for a quarter-point hike. The Nasdaq Composite closed October down about 5.2%, its worst month since March 2025, with reports tying Friday’s sell-off to rising oil, weak tech earnings and December hike bets.