Stock Market News Today: Dow Falls 300 Points; Meta, Alibaba Stocks in Focus

📆 10/3/2023 12:34 PM
📰 WSJ

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Live coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite

back above 4.7%

, dragging down stock indexes, as investors bet that the economy’s strength will mean higher borrowing costs will stick around for awhile. Yields have surged in recent weeks as the U.S. economy’s resilience has dashed investors’ hopes that the Federal Reserve could soon switch. Rising yields are also giving investors another way to earn returns, which has been denting the appetite for risky assets like stocks.All three major U.S. indexes were more than 1% lower, led by the Nasdaq Composite. The Dow industrials were down more than 350 points, on track toThe yield on the 10-year U.S. shot above 4.

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