US stocks gave up all of their gains for October as a sell-off in tech heavyweights on Thursday produced Wall Street’s worst daily drop in almost two months.
In the final trading session of the month, the S&P 500 ended down 1.9 per cent while the tech-heavy Nasdaq Composite closed 2.8 per cent lower.
Big Tech stocks led the losses, with Microsoft dropping 6 per cent — its biggest one-day drop in two years — after its quarterly earnings outlook disappointed. Facebook parent Meta, which also reported on Wednesday, slid 4.1 per cent.
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