US equity markets extended losses on Friday (30 October) led by falls for a number of big technology heavyweights following quarterly results after the close of last Thursday’s (29 October) session, with the benchmark indices settling off their worst levels of the session but logging their worst monthly decline since March - Dow down -158-points or -0.60%, paring an earlier drop of over >500-points . The broader S&P500 -1.1%, with Consumer Discretionary (down -3.00%) and Information Technology (-2.44%) leading nine of the eleven primary sectors lower. Financials (up +0.27%) and Energy (+0.19%) were the only primary sectors to advance. Cruise operators traded strongly (Carnival Corp up +5.62% and Royal Caribbean Cruises Ltd +4.81%) after the Centers for Disease Control and Prevention (CDC) chose not to extend its full no-sail order, and has instead gone with a "phased approach" to resuming cruise operations. The technology-centric Nasdaq dropped -2.5%, having been down over >3% earlier in the session. Facebook Inc (down -6.31%), Apple Inc (-5.60%), Amazon.com Inc (-5.45%). Google parent Alphabet Inc bucked the weaker trend among the big technology names, rising +3% after the internet-search giant third quarter earnings numbers released after the close of last Thursday’s (29 October) session crushed consensus analyst estimates and recorded a strong rebound in its core advertising revenue. Netflix Inc closed down -5.6% after the streaming company announced after Thursday’s (29 October) that it will raise prices for U.S. subscribers. Twitter Inc slumped -21.1% - its worst single session decline since 2014 and marking a drop of -US$8.8B in market capitalisation terms - after the microblogging site reported after the closing bell of the previous session that monetised third quarter daily active users fell short of analysts’ expectations (up +1M to 187M versus analysts’ forecasts for 195M). Twitter is still up ~88% from is 18 March low.

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