Market Tumbles on Weak Bond Auction

Broad-based selling hit markets Wednesday following a poorly received Treasury auction. The E-mini S&P 500 fell 110 points, NASDAQ dropped 300 points, while the Russell 2000 led declines, shedding 58 points (-3%).

Bond yields surged as prices fell to 110.29, marking their lowest level since April's previous bottom of 111.16. Volatility spiked 7%, reflecting heightened market concern.

Among notable movers, Reddit (RDDT) plunged nearly 10%, UnitedHealth (UNH) dropped 18 points, and Costco fell $10. Google (GOOGL) bucked the trend, gaining nearly $5. Gold rallied $41 as a safe haven.

Upcoming earnings from Snowflake and Zoom will face headwinds from today's selloff, with both stocks showing significant intraday volatility ahead of their reports.