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U.S. stock market closing | S&P Nasdaq posts its largest two-month decline! The technology 'Big Seven' all suffered losses, with Microsoft falling more than 6%.
S&P fell nearly 2%, showing the worst performance in nearly two months along with the Nasdaq. In October, the S&P and Dow fell by about 1%, while the chip and Chinese concept indexes fell by over 4% for the month.
Express News | The probability of a 25 basis point rate cut by the Federal Reserve in November is 90.1%.
usa 30-year mortgage rates rise to 6.72%.
Gelonghui October 31st | Fannie Mae: The 30-year fixed-rate mortgage rate in the usa for the week of October 31st was 6.72%, the highest level since August 1, 2024, up from 6.54% the previous week.
Express News | Institutions: As the inflation rate in the USA decreases, the company faces challenges in maintaining high profit margins.
Express News | Institutions: The year-on-year growth rate of wages and salaries has dropped to below 4%, indicating that the usa has made steady progress in easing inflationary pressures.
Express News | Consumer spending in the USA remains strong, benefiting from a tight labor market and easing inflation.