Wall Street pumped the brakes on a stock rally as Meta Platforms Inc. sank 11% amid plans to take on debt to fund its artificial-intelligence push. Bond yields and the dollar rose as the Federal Reserve tempered rate-cut expectations.
A rout in several megacaps dragged down the S&P 500, which still remains on track for its longest streak of monthly gains in four years. While the US and China agreed on a trade truce, the deal was seen as mostly priced in. Meantime, equities triggered a “Hindenburg Omen” - a technical indicator that occurs when a bifurcated market loses ...
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