US Stock Market Today: Dow Jones Dips 0.6% & NASDAQ Slips 1.8%, as Tech Valuations Face Scrutiny and Shutdown Delays Key US Data

Global equity markets pulled back as investors reduced risk after a strong multi-week rally. The S&P 500 fell more than 1% in early New York trading, while the NASDAQ 100 dropped about 1.8%, putting both benchmarks on track to end a three-week winning streak. The Dow Jones Industrial Average also edged down by 0.6%, while the Russell 2000 small-cap index declined by 1.4%.

European and global benchmarks followed the same pattern. The Stoxx Europe 600 slipped, and the MSCI World Index also weakened. A key gauge of mega-cap technology names, the Bloomberg Magnificent 7 Total Return Index, recorded a steeper loss. The Cboe Volatility Index hovered near 21, which signaled stronger demand for protection against equity swings.

In other asset classes, bond markets showed only modest moves. The yield on 10-year US Treasuries held close to 4.09%, while two-year Treasuries traded near 3.55%. Long-dated US debt saw yields around 4.70%. German and UK 10-year yields moved slightly higher, reflecting cautious sentiment but not a sharp repricing.

Currency trading pointed to a softer dollar. The Bloomberg Dollar Spot Index slipped about 0.2%. The euro traded near $1.16, the British pound moved above $1.31, and the Japanese yen held near ¥153 per dollar. Bitcoin hovered close to $101,000 after a volatile week, while Ether traded near $3,300. West Texas Intermediate crude stayed near $60 a barrel, and spot gold price approached $4,000 an ounce.