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US stock markets slide as Treasury yields rise
Business
US stock markets slid today, with the Nasdaq dropping 1.7% as tech and AI stocks like NVIDIA, Broadcom, and Alphabet took a hit.
Rising Treasury yields and worries about pricey valuations spooked investors.
The S&P 500 also fell by 1.1%, and the Dow lost 382 points.
Small-cap stocks held up better
While tech struggled, investors moved money into healthcare, industrials, and financials—helping small-cap stocks hold up better.
Disney shares sank 9% after its revenue missed expectations, even though profits were up.
With little fresh economic data after the government shutdown, all eyes are now on the Federal Reserve's December meeting—there's a roughly 50/50 chance of a rate cut, which could shake things up again soon.