All three major indexes fell in the New York market on 13 October local time. Bank earnings failed to meet market expectations, while weakness in semiconductor stocks accelerated the decline.
All three major indexes fell in the New York stock market on 13 October local time. The report provides specific stock and sector developments only within the scope of the news summary.
Market reactions were divided, centered on the view that major banks’ earnings had failed to meet expectations, and the banking sector was said to have weighed on the market overall.
At the same time, declines in semiconductor stocks pushed the market lower, with competition concerns involving Chinese companies also cited as a contributing factor.