CommSec Market Update

Morning Report 24 Oct 24: NASDAQ falls 2% as tech-led stock rout deepens


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Investor caution continues to take shape ahead of the US election, while U.S. Treasury yields have fallen for a third straight day as bets on a Fed rate cut wane. In company news, Apple shares dropped after iPhone production cuts, and Coca-Cola shares declined despite better-than-expected earnings reports. Meanwhile, McDonald’s has pulled a popular burger from its menu due to an E. coli outbreak. Elsewhere, the Bank of Canada has slashed interest rates. Oil has slipped 1% following a large build in U.S. crude inventories and futures are pointing to a significant loss for the ASX 200 at the start of Thursday's trading.

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