The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists.
US markets closed mixed as weak June jobs data cooled rate hike fears. Nasdaq fell on tech and chip stock declines, while the Dow rose
Chip stocks experienced a significant downturn, with major AI rally leaders seeing sharp profit-taking after a record quarter. The VanEck Semiconductor ETF plunged over 5%,
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