Morning Report 24 Oct 24: NASDAQ falls 2% as tech-led stock rout deepens

Investor caution continues to take shape ahead of the US election, while U.S. Treasury yields have fallen for a third straight day as bets on a Fed rate cut wane. In company news, Apple shares dropped after iPhone production cuts, and Coca-Cola shares declined despite better-than-expected earnings reports. Meanwhile, McDonald’s has pulled a popular burger from its menu due to an E. coli outbreak. Elsewhere, the Bank of Canada has slashed interest rates. Oil has slipped 1% following a large build in U.S. crude inventories and futures are pointing to a significant loss for the ASX 200 at the start of Thursday's trading. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

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