Morning Report 20 Oct 22: US sharemarkets halted a two-day rally on Wednesday

A surge in US government bond yields on investor expectations of bigger interest rate hikes dampened sentiment. Shares of Abbott Laboratories fell 6.5% after reporting lower-than-expected growth in international medical device sales. Netflix shares jumped 13.1% after reversing customer losses. United Airlines (+5%), Procter & Gamble (+0.9%) and Travelers (+4.4%) all posted upbeat earnings results. The Dow Jones index fell by 100 points or 0.3%. The S&P 500 index dipped 0.7%. The Nasdaq index shed 92 points or 0.9%. 

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