01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.22% at 53,343.40; S&P 500 fell 0.69% at 7,691.76; NASDAQ dropped 1.33% at 26,289.71. A global bond-market selloff and renewed geopolitical jitters kept pressure on risk assets, driving all three benchmarks into the red for the session.
Heavy swings in semiconductor-linked vehicles headlined the day’s unusual movers. In leveraged products, SOXS surged 15.20% at $44.19, while its bullish counterpart SOXL fell 14.80% at $129.10. Core chip names slumped: MU declined 7.02% at $940.76; SNDK slid 9.01% at $1,625.78; INTC fell 6.58% at $96.69; and AMD dropped 4.27% at $484.39. Optical and laser specialist COHR tumbled 12.75% at $306.43, while fellow memory player LITE lost 9.87% at $873.31. In contrast, megacap AAPL added 1.45% at $310.03, and MSFT inched up 0.27% at $481.63, highlighting a defensive rotation into select platform giants. Short-side hedging was evident as TQQQ slid 5.07% at $72.53.
Beyond chips, broad technology names also struggled amid rising yields, but pockets of strength emerged. Social-media heavyweight META retreated 4.45% at $543.67 during the first day of its landmark youth-safety trial, while GOOG eased 0.05% at $341.28. Conversely, Apple’s gain followed fresh concessions to EU regulators, supporting the broader megacap complex. Overall, heightened rate worries appeared to spur profit-taking in growth equities, even as selective regulatory or product catalysts helped a few household names buck the trend.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.71%. USD/CNH fell 0.0074%, at 6.79; USD/HKD fell 0.0079%, at 7.84. U.S. Dollar Index fell 0.0090%, at 99.64. WTI crude futures rose 0.49%, at 84.47 USD/bbl; COMEX gold futures fell 0.72%, at 4,388.80 USD/oz.
03 Top News
1. Apple will overhaul its App Store rules in the European Union to settle antitrust tensions. From Oct. 1, all EU developers move to a single set of business terms, with commissions cut to 5% for off-store payments and 26% for in-app purchases. Apple also agreed to extra protections for users under 13, aiming to close a long-running dispute with regulators.
2. Meta faces a landmark youth-safety trial as 29 U.S. states accuse it of addicting children to Facebook and Instagram. Prosecutors allege the company designed features to maximize usage and concealed associated harms, seeking hefty penalties and operational changes. The case could reshape social-media business practices if the judge rules against Meta.
3. Disney and ABC filed suit against the FCC, claiming retaliatory pressure over broadcast-license reviews. The companies argue the agency’s early scrutiny of eight ABC stations violates free-speech protections and responds to political demands to curb unfavorable content. They requested an immediate restraining order to halt the licensing proceedings.
4. Amylyx Pharmaceuticals reported its drug avexitide met all primary and secondary endpoints in a Phase 3 trial for post-bariatric hypoglycemia. Patients on avexitide experienced a 55% reduction in severe low-blood-sugar events versus placebo. Shares soared in pre-market trading as the positive data bolster prospects for regulatory submission.
5. A global bond rout pushed the U.S. 10-year Treasury yield to levels unseen since early 2025. Investors cited rising energy-driven inflation fears and surging corporate issuance, especially from AI-focused tech giants, as key drivers. Higher real yields intensified equity repricing pressures.
6. Former President Trump said the United States has no ongoing or planned negotiations with Iran, maintaining a naval blockade in the Gulf. The announcement preserved geopolitical tension, keeping the Strait of Hormuz under close watch and supporting elevated oil prices.
7. European equity markets slumped as the STOXX 600 fell 0.69%, weighed by spiking bond yields and Middle East uncertainty. Tech shares led losses, with chipmakers Infineon and Aixtron dropping over 7%, as higher discount rates eroded growth valuations. Energy names gained on firmer crude prices.
8. Bank of America’s latest Global Fund Manager Survey showed the highest equity allocation in nearly five years. Respondents cited resilient U.S. growth, AI investment momentum, and expectations of double-digit earnings gains. A record share predicted a “no-landing” scenario of sustained expansion without Fed rate cuts.
9. Anthropic’s annual revenue run-rate surpassed $65 billion ahead of its anticipated IPO, according to a Bloomberg report. The AI startup’s rapid growth underscores investor enthusiasm for generative-AI platforms. Analysts noted the figure, while impressive, lagged some earlier projections, sparking debate over valuation.
10. Oppenheimer flagged potential pressure on Deere’s upcoming fiscal third-quarter results amid European farm weakness and conflict-related supply issues. Nonetheless, the broker sees scope for improved full-year guidance as North American crop-price dynamics remain supportive. Deere’s shares edged 1% lower to $593.92 in recent trading.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
