U.S. stocks fell on Wednesday amid heightened U.S.-Sino trade war fears and Netflix’s earnings miss. Treasury yields are down as investors favor employment risks over inflation concerns. Key market moves show S&P 500, Nasdaq, and Dow slipping. Netflix plunged 10%, while Tesla dropped after-hours despite record Q3 revenue.

U.S. trade talks intensify as U.S. Trade Representative and Treasury Secretary head to Malaysia to meet Chinese officials. Japan finalizes a purchase package to present to Trump. India nears a deal to slash U.S. tariffs. Legal clouds loom for U.S. Big Tech as Apple faces antitrust complaint in EU.

Third-quarter earnings season ramps up with strong beats so far. Netflix’s miss sends shares plummeting 10%. Treasury yields signal investor acceptance of Powell’s steer on employment-driven policy. Official economic data on Friday expected to show core annual inflation holding steady at 3.1%.

Investors worry over the fragile labor market amid the government shutdown. Goldman Sachs cites reasons for shrinking job growth. Breakeven pace of job growth needed to stabilize unemployment rate is uncertain. Fed’s focus shifts from inflation to labor market fragility amid moderate oil prices and weakening demand.

Upcoming market movers include Taiwan industrial production, South Korea interest rate decision, Eurozone consumer confidence, ECB President Lagarde speaking, Canada retail sales, U.S. Treasury auctions, and earnings reports from T-Mobile, Intel, Union Pacific Corp, IBM, Blackstone, and Honeywell.

Read more at Yahoo Finance: Wall Street’s hunt for red October