SQUAWK BOX, FRIDAY 27TH OCTOBER, 2023

The Nasdaq falls further into correction territory as poor tech results and rising Treasury yields dampens sentiment in the sector. Meanwhile the U.S. economy has grown at its fastest pace in two years. Amazon boasts soaring advertising sales with profits almost tripling for the quarter. Shares are up by 5 per cent in after-hours trade. In China, policy support aids profits in some of the country’s biggest industrial firms as Foreign Minister Wang Yi meets his U.S. counterpart Antony Blinken in Washington, hoping to improve ties between the world’s two largest economies. The ECB pauses its rate-hiking cycle after 10 consecutive increases. The central bank’s president Christine Lagarde announces that any suggestion of cuts remains very premature.

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