Tech Stocks Drag Markets Lower as Yields Climb; Earnings Season Rolls On

Stocks fell Wednesday, Nasdaq entered correction territory as tech stocks dropped. Alphabet shares down over 9% on cloud revenue disappointment.

After the bell, Meta set to report earnings. Traders bracing for next wave including IBM and Meta Platforms.

Republicans elected Rep. Mike Johnson House Speaker, but November shutdown deadline still looms.

Rising yields kept pressure on stocks. Sales of new homes rose despite rate hikes, worrying markets.

Oil futures recovered on economic data. But geopolitical risks, recession fears remain overhangs.