Traders work on the floor of the New York Stock Exchange. Spencer Platt/Getty Images

Redemption Day quickly turned into Reckoning Day on Wall Street.

Going into Thursday, the sagging stock market had two big questions it wanted answered: Is the artificial intelligence bubble about to burst, and will the Federal Reserve cut interest rates in December?

At first, it seemed like traders finally got the clear response they had been eagerly awaiting:

Nvidia reported super-strong earnings Wednesday evening, initially easing fears that demand for AI had faded.

And Thursday morning’s jobs report showed the unemployment rate had risen unexpectedly, and the US economy had lost jobs in August for the second time in three months. The market bet the Fed could be forced to lower rates next mont

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