US election, tech jitters rattle global stocks [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance
Data showing the US Federal Reserve's preferred inflation measure cooled further last month -- and now sits just above its long-term target -- failed to boost sentiment, despite being a positive sign for future interest-rate cuts. All three major US indices fell, with the tech-rich Nasdaq Composite Index falling nearly three percent. Both Microsoft and Meta topped earnings estimates, but saw their share prices tumble after signaling plans to ratchet up AI investments. Microsoft ended down 6.1 percent while Meta lost 4.1 percent. "Earnings expectations have been high and they're meeting, but they're not meeting to the same degree they were," said Jack Ablin, chief investment officer at Cresset Capital Management. Analysts have also been monitoring the rise in US Treasury bond yields amid expectations the Federal Reserve may back off significant interest rate cuts, amid US economic data that has generally been solid. "With the US election just around the corner, many investor
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