S&P 500 Extends Slide From Its July Peak to 10%

• War fears drive crude oil higher as gold hits $2,000 an ounce
• The Israeli army is expanding ground activity in Gaza

 

A rebound in stocks sputtered, with the S&P 500 extending a slide from its July peak to 10% — and entering a “correction.” Oil topped $85 and gold hit $2,000 amid the latest geopolitical developments.

Volatility resurfaced on news that Israeli forces are expanding activity in Gaza. The US stock benchmark saw its worst week in a month. The KBW Bank Index slid to the lowest since September 2020. Amazon.com Inc. and Intel Corp. rallied on earnings. Treasury two-year yields retreated as traders took a hot inflation measure in stride. The dollar fell.

https://www.bloomberg.com/news/articles/2023-10-26/stock-market-today-dow-s-p-live-updates