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Sparked by fallout from earnings reports in the tech sector, Wall Street would turn sharply lower on Friday. The three major indices all retreated on the day to wrap a losing week and close the month mixed.
Earnings reports and spending outlooks in the AI trade sent investors rushing for the exits late in the week. The selloff was deep and wide starting with the Mag7. In this report, the carnage by the numbers.
Fed policymakers, as expected, left rates unchanged at their Wednesday meeting. Officials said more data is needed before they take action, while the Fed chairman made clear the inflation fight won't rest.
The personal consumption expenditures report for September put more pressure on a possible rate hike in December. The pace of inflation edged up again to move further away from the Fed's target level.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the latest on the hostilities and efforts to reach a deal, updates can be found here.
The new week will serve up a wide range of news. Tuesday's elections and Apple's earnings will be joined by the latest jobs report and November's initial sentiment survey in a very packed five-day stretch.
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