Why the Nasdaq Had Its Worst Day Since June | Market Update Oct 23
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Why the Nasdaq Had Its Worst Day Since June | Market Update Oct 23
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Summary
Wall Street lost faith in the AI trade following earnings from Meta and Tesla. The Nasdaq fell 2.60%, its worst day since June, and chip stocks dropped 6.72% as investors asked whether AI spending will pay off. Meta fell 6.98% and announced a new class of non-voting shares. Lam Research fell 11.76%. Money moved into everyday names like P&G, up 5.58%, and the 10-year Treasury yield slipped below 5%.Today: American Express reports, and the Fed meets next week.$META $TSLA $LRCX #stockmarket #financetok #stocks #marketupdate #investing
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