CNBC Business News Update - Market Midday: Stocks Lower, Anthropic Gets Investment From Microsoft & Nvidia, Google Announces Gemini 3 11/18/25

Episode Date: November 18, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger, CNBC. Wall Street's sell-off continues this afternoon. Major average is all in the red, although there's been a little bit of a recovery. The Dow is still down 292 points. Home Depot shares down 4% leading the Dow lower. The S&P 500 index, down 18. The NASDAQ down 129 points this afternoon. That's a half a percent. Shears of Invidia recovered a little. They're down about 1.3% now. This has evolved into a correction, which is what I believe it is. This is a correction. It will come to an end probably pretty soon. Serity partners Jim Labenthal on CNBC. Anthropic now valued in the $350 billion range after an investment deal with Microsoft and NVIDIA. Anthropic is an AI company. And interestingly, Microsoft is also invested billions into Anthropic. rival open AI. Google meantime announcing Gemini 3, a new version of its AI. The Gemini app now has 650 million monthly active users. Home Depot missed earnings estimates for three quarters in a row now

blaming in part the lack of hurricanes hitting the U.S. as part of the reason for disappointing quarterly results. The chain cut its earnings outlook as home improvement demand falls. The absence of storms, think hurricanes, puts pressure on cattle. like roofing, plywood, and generators. When you have people that have to repair roofs and rebuild homes and structures, it is a really big deal to the country's largest homes at retailers. And ongoing consumer uncertainty and continued pressure in housing are disproportionately impacting home improvement demand. CNBC's Courtney Reagan, home builders, meantime feeling negative about the real estate market and their business in the latest survey from the National

Association of Home Builders. Now, the builders, cite market uncertainty exacerbated by the government shutdown, along with economic uncertainty stemming from tariffs and rising construction costs. Future sales expectations fell three points. Builders say buyers are still worried about job security and inflation. They also note more builders using incentives to get deals closed, including lowering prices. Forty-one percent of builders reporting cutting prices in November. That is a record high post-COVID, and the first time this measure has passed 40 percent. Anna Olik, the average rate on a 30-year home loan, 6.38 percent, according to mortgage news daily.

Bitcoin dipping below 90,000, its lowest since last April. Bitcoin has lost nearly a third of its value from its October high. The pullback is meaningful, you know, Bitcoin down 28%, Ether down 40%. So, you know, it is notable, and it's not surprising to see it ultimately carry over to other asset class. Their leads Katie Stockton on CNBC. On Wednesday's watch list, earnings are coming from a biggie, NVIDIA. Plus, we hear from more retailers, Target, Lowe's, and T.J. Max and Marshall's parent, T.J.X. Companies. On Wednesday afternoon, we get the minutes from the last Fed meeting.

Investors will comb through those for hints on the direction of interest rates. The Country Music Awards are on Wednesday night, and Wednesday night's Powerball jackpot has hit $593 million, well, more than a half billion. Jessica Ettinger, CNBC. Join the club with Jim's best deal of the year at CNBC.com slash Club Black Friday. Terms and restrictions apply.