Stock market today: Dow tumbles 400 points, tech rout leads Nasdaq, S&P 500 lower as 10-year yield tops 4%

Published On Oct 7, 2024, 4:04 PM

U.S. stocks saw declines as the 10-year Treasury yield exceeded 4%, with the Dow falling about 400 points and the other major indices also in the red. Alphabet faced pressure after a judge mandated more competition in its app store, leading to a drop in its stock. In contrast, oil prices surged due to geopolitical tensions in the Middle East and the impending hurricane off Florida's coast impacting insurance stocks negatively. With key inflation and earnings reports expected this week, investors are eyeing potential effects on interest rate adjustments by the Federal Reserve.