Stock Markets Dip, Chip Stocks Shine; Fed Rate Cut Expected

Major stock indexes dipped on Monday, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 all closing down due to rising bond yields. However, chip stocks like Micron Technology and ON Semiconductor showed strength, limiting losses. The market eagerly awaits the Federal Open Market Committee meeting on Wednesday, expecting a rate cut, and has seen positive earnings results in the third quarter. Overseas markets, however, generally fared better.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.