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Morning Report 08 Oct 24: Dow tumbles almost 500 points as US 10-year treasury yield tops 4%
Manage episode 444117551 series 3531694
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Wall Street technology stocks are under pressure as expectations for Fed rate cuts diminish. Oil prices rise 3% due to increased Middle East war risks, while insurance stocks plunge as Hurricane Milton intensifies to Category 5 near Florida. In China, markets reopen after Golden Week, with iron ore advancing on hopes for further China stimulus. Locally, the RBA is set to release its September meeting minutes, while Aussie shares and the dollar are weighed down by risk-off sentiment.
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