Stocks fall, bond yields rise on reduced rate-cut expectations

From Nasdaq: 2024-10-08 08:35:07

Stocks retreated on Monday, with the S&P 500 down -0.96%, Dow Jones Industrials down -0.94%, and Nasdaq 100 down -1.17%. Reduced rate cut expectations pushed bond yields up. Middle East tensions boosted crude oil prices. Israel intensified its offensive in Lebanon against Hezbollah. Hawkish Fed comments weighed on stocks, as traders await US consumer price data later in the week. European government bond yields rose, led by Germany and the UK. US insurer stocks fell as Hurricane Milton approached Florida. Amazon, Apple, and other tech stocks declined. Super Micro Computer was a top gainer, while Pfizer and casino stocks rose. Earnings reports are due from Accolade, Critical Metals Corp, IDT Corp, and PepsiCo on 10/8/2024.



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