The Globe and Mail reports in its Friday edition that Wall Street fell sharply on Thursday, led by losses in Nvidia and other AI stocks, as investors reduced expectations for interest-rate cuts amid inflation concerns and central bank disagreements about the U.S. economy's health. A Reuters dispatch to The Globe reports that all three major U.S. stock indexes posted their steepest daily percentage declines in more than a month. The U.S. government reopened after a record 43-day shutdown that had worried investors and disrupted the flow of economic data. A growing number of Federal Reserve officials have expressed hesitation about further interest-rate cuts, leading to near-even odds for a reduction in December. They cited concerns about inflation and signals of stability in the labour market after two rate cuts this year. Longbow Asset Management head Jake Dollarhide says: "The fundamental question is: Is tariff inflation transitory and a one-time deal? And whether it is or isn't, that's why some of the Fed governors don't want to cut." Traders are pricing in about a 47-per-cent chance of a 25-basis-point rate cut in December, lower than last week's 70-per-cent probability, according to CME Group's FedWatch tool.