Good afternoon.
Markets slide, Q3 earnings season kicks into high gear, and mortgage rates rise to their highest level since 2000.
Let's dive in.
Markets
Here are today's market moves:
What's Happening
U.S. stocks fell on Wednesday as investors monitored corporate earnings and the Israel-Hamas war.
The S&P 500 fell 1.34%, wiping out $500 billion in market value:
Q3 earnings: Netflix soared 12% in after-hours on strong earnings, while Tesla fell 4% after a sharp drop in profits.
The crypto market was flat on Wednesday, with Bitcoin trading near $28,000.
Catch Up
Mortgage rates hit 8% on Wednesday, the highest level since 2000.
Around 11% of companies in the S&P 500 have reported Q3 earnings so far, with 81% beating expectations.
OpenAI, the creator of ChatGPT, is in talks to sell shares at an $86 billion valuation.
What Else?
