US Stock Market Today: S&P 500 Falls 0.9% & NASDAQ Dips 1.6%, as Tech Weakness and Labor Market Slowdown Boost Fed Cut Bets

US government bonds advanced as investors rotated toward fixed income. The 10-year Treasury yield dropped seven basis points to around 4.09%, while the two-year yield fell to 3.56%.

Currency markets adjusted to the lower yields and softer growth tone. The Bloomberg Dollar Spot Index eased 0.1%, while the euro rose 0.3% to $1.1530 and the British pound gained 0.3% to $1.3090. The Japanese yen strengthened 0.6% to 153.23 per dollar.

Commodities showed mixed moves as investors reassessed global demand. West Texas Intermediate crude futures fell 1.2% to $58.88 a barrel, while spot gold traded close to flat despite the weaker dollar and lower yields. Bitcoin dropped 1.8% to $101,843.61, and Ether fell 4% to $3,303.18 as investors trimmed exposure to higher-risk assets.