S&P 500 Falls 1% as Meta Gets Hit on Spending Push: Markets Wrap

Oct. 30, 2025, 8:52 PM UTC

Wall Street pumped the brakes on a stock rally as concerns over whether massive artificial-intelligencespending will pay off sent Meta Platforms Inc. down 11%. Bond yields and the dollar rose as the Federal Reserve tempered rate-cut expectations.

A selloff in several megacaps dragged down the S&P 500, following a $17 trillion surge from its April lows. While the US and China agreed on a trade truce, the deal was seen as mostly priced in. Meantime, equities triggered a “Hindenburg Omen” - a technical indicator that occurs when a bifurcated market loses momentum amid lackluster breadth.

Stock rally takes a breather.
Photographer: Michael Nagle/Bloomberg

Those developments ...

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