After shareholders enjoyed a record price streak, today’s stocks have uncharacteristically fallen for the third day.
Nvidia and other Big Tech stocks were the market’s most significant losers. The troubled Boeing also slipped a further 1.8%.
McDonald’s lost 5.1% after federal health officials linked its Quarter Pounder burgers with an outbreak of E.coli, with 49 people in 10 states affected. Their stocks are predicted to steadily fall while the Center for Disease Control and Prevention is still investigating the fast food company.
AT&T and Texas Instruments are up after both are reporting stronger profits than anticipated for their latest quarters.
World markets today have had a mixed reaction to the Wall Street drop.
Oil prices climbed more than $1.
Germany’s DAX is up 0.8% to 19,525.36 and the CAC 40, Paris also gained 0.8%, to 7,557.30.
Britain’s FTSE 100 is up 0.8%, at 8,322.03.
The S&P 500 is up 0.5% and the Dow Jones Industrial Average down 0.1% while the Nasdaq sank to 1.6%.
“Japan’s private sector fell into contraction territory at the start of the fourth quarter of the year,” economist Usamah Bhatti said, “Confidence about business activity growth in the next 12 months softened in October and was the least pronounced since August 2020.”
In China, Stephen Innes wrote, “A cocktail of worries about China’s economic outlook and a contentious U.S. presidential election weighed heavily on market sentiment”
The yield on the 10-year Treasury went from 4.23% to 4.21%, rising from just 4.08% Friday.
Treasury yields have been climbing after a report showed that the US Economy remains strong. This raises hopes that the economy can bounce back from inflation without a recession that many analysts predict is ‘inevitable’.
By CEO NA Editorial Staff
