Posted 10/26/2023, 10:01:49 AM
Stocks Slump as Yields Surge, Trade Worries Persist Despite Strong Earnings
- Wall Street selloff snowballs as bond yields spike again and Middle East tension rises, even as Meta beats expectations.
- U.S. growth seen accelerating over 5% in Q3 GDP but bonds unimpressed by data or tentative Ford labor deal.
- Dollar at 20-month high vs yen near 150 amid no BoJ intervention yet; euro sinks before ECB decision.
- Chinese stocks defy gloom on stimulus hopes but property giant Country Garden defaults.
- Amazon results due after Google slump; busy day of data includes jobless claims, durable goods and trade balance.
