Treasury Yields Stabilize, Global Rout Subsides: Market Update

Global bonds stabilized as traders analyzed US data and increased bets that the Federal Reserve will not raise interest rates further. The S&P 500 is expected to continue its selloff, while large-cap tech stocks powered gains in the Nasdaq 100 index. US companies added the fewest jobs since the start of 2021 in September, indicating a slowdown in labor demand. The Institute for Supply Management's services index also fell to its lowest level this year. The recent bond selloff was fueled by better-than-expected US job data and hawkish comments from Federal Reserve officials.