The Rundown FAA to Cut Flights by 10% at 40 Airports, Tesla Approves Elon Musk's $1T Pay Package
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Nov 7, 2025 Markets are in a slump, with tech and AI stocks feeling the heat. The FAA plans to cut flights by up to 10% at major airports due to worker fatigue from the shutdown. On a surprising note, Tesla shareholders have approved an astronomical pay package for Elon Musk, contingent on performance milestones. Meanwhile, Airbnb sees revenue growth fueled by early trip planning options, while concerns mount over Meta's ad revenue being tainted by scams, exacerbated by AI.
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NVIDIA Could Set Market Tone
- Markets are tumbling mainly due to cooling AI enthusiasm and weak labor signals.
- NVIDIA's Nov 19 earnings could set the market's direction for the next stretch.
Labor Data Blind Spot Raises Risk
- Private reports show a sharp rise in tech sector layoffs and uncertainty without official jobs data.
- The ongoing shutdown is obscuring labor signals and amplifying market volatility.
FAA Flight Cuts Grow To 10%
- FAA will cut flights progressively up to 10% at 40 major U.S. airports due to worker fatigue from the shutdown.
- That translates to roughly 2,500 canceled flights per day once cuts reach 10%.