The Nasdaq Composite extended losses and dipped in the bear territory after Meta Platforms earnings fell short of some investors' expectations, compounding growth worries in the sector. Treasury yields remained elevated after the U.S. economy expanded at a faster pace in the third quarter.
Market indexes accelerated losses after Treasury yields turned higher on interest rate uncertainties and the growing prospects of the U.S. federal government shutdown in three weeks.
Benchmark indexes declined after Google stock dropped as much as 8% and dragged down Amazon and Apple. Total mortgage application volume stalled, and new home sales rose to a 19-month high.
Benchmark indexes advanced on earnings optimism, stable Treasury yields, and a decline in crude oil prices. Microsoft and Alphabet were in focus ahead of earnings releases.
Benchmark indexes rebounded from morning losses, and Treasury yields edged lower as the much-feared slowdown in the U.S. economy appears less likely to materialize.
Benchmark indexes struggled to advance after Treasury yields edged higher and the yield on 10-year Treasury note crossed 5% after the U.S. federal budget deficit soared in the latest fiscal year.
Investors recalibrated interest rate expectations and abandoned the prospect of lower rates in the fourth quarter, setting the stage for more weakness in high-growth stocks and benchmark indexes.
U.S. Treasury yields advanced and stocks skidded after Fed Chairman Powell suggested that higher rates may be necessary to weaken inflation to the target level.
Stock market indexes struggled to advance after U.S. Treasury yields retained an upward bias and hovered near 16-year highs ahead of comments from the Fed Chairman Powell.
Market averages accelerated their declines on the interest rate uncertainties and the prospect of a wider conflict in the Middle East. Rising energy prices contributed to market jitters as the 10-year U.S. Treasury yield advanced to a 16-year high.
Caution prevailed on Wall Street and Treasury yields rebounded following a surge in crude oil prices. Mortgage applications dropped to a 28-year low as buyers struggled with higher home prices and elevated mortgage rates.
Stocks struggled after Treasury yields rebounded following the rise in September retail sales suggesting resilient consumer spending despite elevated interest rates and inflation.
Benchmark indexes in Europe trended down and investors reviewed the latest batch of earnings. German investor sentiment improved on the expectations of stable interest rates and additional weakening of inflation.
