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Investment Daily: US stocks fell on tech weakness

30 October 2026

Key takeaways

  • US stocks and Treasury yields fell.
  • European stocks and government bonds rose.
  • Asian stocks were mixed.

Markets

US stocks fell on Thursday, led by losses in some tech heavyweights after earnings releases. The S&P 500 lost 0.3%.  

US Treasuries rose as tech stock weakness drove safe-haven demand. 10-year yields fell 8bp to 4.94%.

European stocks rose on Thursday as investors assessed the ECB rate decision. The Euro Stoxx 50 closed 0.6% higher. The German DAX and the French CAC advanced 1.3% and 1.1%, respectively. In the UK, the FTSE 100 gained 0.3%.

European government bonds rose. 10-year German bund yields fell 2bp to 3.35%, while 10-year French bond yields ended little changed at 4.91%. In the UK, 10-year gilt yields fell 3bp to 5.29%.

Asian stock markets traded mixed on Thursday, as investors assessed the latest earnings releases. Japan’s Nikkei 225 rose 1.1%, while Korea’s Kospi lost 1.2%. Elsewhere, Hong Kong’s Hang Seng and China’s Shanghai Composite fell 0.6% and 0.8%, respectively. India’s Sensex rebounded 1.2% amid lower oil prices.

Crude oil prices fell on Thursday. WTI for December delivery settled 0.8% lower at USD102.0 a barrel. 

Key Data Releases and Events

Releases yesterday

In the US, Q3 GDP accelerated to 3.4% qoq (annualised) from 2.2% in Q2, above market expectations. The PCE Price Index rose 3.6% yoy in September, after a 3.4% yoy rise in August, with core inflation also edging higher to 3.1% yoy.

The European Central Bank (ECB) kept interest rates on hold, as expected, but signalled a rate hike in December amid rising energy prices. ECB President Christine Lagarde announced that she would step down in early February 2027.

Releases due today (30 October 2026)

The Bank of Japan is expected to leave its policy rate unchanged, with Governor Ueda's post-meeting comments in focus.

Eurozone Q3 GDP should moderate, led by weaker consumer spending and investment. Spain continues to outperform its peers.

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