Stocks Fall After Fed Pushback as Meta Tumbles 11%: Markets Wrap

Wall Street pumped the brakes on a furious stock rally after the Federal Reserve tempered expectations for a December rate cut and Meta Platforms Inc. tumbled 11% as the giant is taking on debt to fund its artificial-intelligence push.

Equities fell after notching a series of records in October, with the S&P 500 still set for its longest streak of monthly gains in four years. While the US and China agreed to a one-year trade truce, several investors saw the deal as mostly priced in. Bond yields rose alongside the dollar as money markets reined in their expectations for policy ...