Morning Report 4 Nov 22: US sharemarkets tumbled on Thursday

US sharemarkets tumbled on Thursday as investors worried that the US Federal Reserve would keep raising interest rates for longer than previously anticipated. Apple (-4.2%), Microsoft (-2.7%) and Alphabet (-4.1%) shares all slid as US treasury yields climbed. Shares of Qualcomm (-7.7%), Roku (-4.6%) and Fortinet (-13.7%) slumped on weak forecasts. Royal Caribbean Cruises shares rose 8.3% despite mixed results, while Etsy shares jumped 14.3% after beating revenue estimates. At the close of trade, the Dow Jones index fell by 146.5 points or 0.5%. The S&P 500 index dipped 1.1% and the Nasdaq index fell by 182 points or 1.7%.

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