A mechanically compliant element can be set into motion by the interaction with light. In turn, this light-driven motion can give rise to ponderomotive correlations in the electromagnetic field. In optomechanical systems, cavities are often employed to enhance these correlations up to the point where they generate quantum squeezing of light. In free-space scenarios, where no cavity is used, observation of squeezing remains possible but challenging due to the weakness of the interaction, and has not been reported so far. Here, we measure the ponderomotively squeezed state of light scattered by a nanoparticle levitated in a free-space optical tweezer. We observe a reduction of the optical fluctuations by up to 25% below the vacuum level, in a bandwidth of about 15 kHz. Our results are explained well by a linearized dipole interaction between the nanoparticle and the electromagnetic continuum. These ponderomotive correlations open the door to quantum-enhanced sensing and metrology with levitated systems, such as force measurements below the standard quantum limit.