Investors sold big tech stocks amid rising worries of slowing sales growth and elevated capital expenditure plans in 2025. European markets closed October with the largest monthly decline in 2024. Earnings dominated trading in China and Japan, but outflows of foreign funds dampened markets in India ahead of Diwali holidays.
Wall Street indexes fell more than 1% after forward-looking announcements from big tech companies disappointed investors. The alternative measure of inflation, which generally understates price increases, confirmed stubborn and well-anchored inflation into the economy.
MSFT META SBUX UBER EBAY CVNA BKNG
MSFT META SBUX UBER EBAY CVNA BKNG
Investors reassessed the rate outlook amid a flow of positive U.S. economic data. European markets extended losses, and passenger car registration declined for the second month in a row in September. Investors in China held out for additional fiscal measures as early as next month. India indexes closed down 1%.