US Treasury yields rose as the ADP jobs data for last month boosted the expectations.
US Stock Market lowered the safe heaven demand for the US government debt. ADP National Employment report revealed that the private employers created 227,000 new jobs last month. However, the economists expected about just 189,000 jobs.
On the other side, October emerged as the tough period for US stocks as despite regaining the portion of month’s losses. The last month termed as one of the worst months since the 2008 financial crisis.
FANG or some big technology stocks like Alphabet, Netflix, Amazon, and Facebook were significantly dropped down. However, they ended down by 9.7, 19.3, 20.2, and 7.7 percent respectively.
According to S&P Dow Jones Indices analysts, The S&P 500 observed the loss of $ 1.91 trillion in October 2018 alone. However, the losses were observed across different industry sectors.