Market Wrap: Wednesday, October 7, 2026 — S&P 500, Nasdaq & Dow Jones

Today's market session saw a broad selloff across all major indices, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all posting declines. The S&P 500 and Nasdaq Composite fell by 0.22%, while the Dow Jones Industrial Average dropped by 0.66%. The selloff was driven by a sharp rise in Treasury yields, with the 10-year Treasury yield reaching a fresh 24-year high, and the 30-year Treasury yield hitting a level not seen since 2002. These high yields spooked investors, leading to a retreat from recent record highs in the S&P 500. The Dow fell 300 points, and the S&P 500 and Nasdaq Composite reached session lows after a strong 10-year Treasury auction. Despite the broad selloff, some sectors and individual stocks showed resilience, with technology stocks like Micron, Nvidia, and SpaceX, as well as pharmaceutical company AbbVie, breaking out to some extent. The Fed minutes were also a focus, with traders digesting the latest policy statements. Additionally, geopolitical tensions, including Iran's mockery of the U.S. economy, added to the market's unease. The overall tone was risk-off, with investors pulling back from riskier assets amid elevated yields and geopolitical concerns.