Welcome to Markets Desk, your midday read on what's moving and why.
Equities are under pressure this session, with the Nasdaq one hundred bearing the brunt of the selling, down one and a half percent as Meta slides six percent and drags the broader tech complex with it. The S&P five hundred is off nearly eight tenths of a percent, and December E-mini futures are confirming the weakness into the close.
Pulling in the opposite direction, Treasury yields are seeing a sharp decline, with PGIM characterizing the move as a take-back trade rather than a genuine recession signal. Investors appear to be unwinding recent rate bets rather than fleeing to safety in a full-throated way, which is an important distinction for reading the bond market's message right now.
Meanwhile, eBay is cutting roughly nine percent of its global workforce even as the company raises its business outlook, a combination that tells you everything about where corporate priorities sit heading into two thousand twenty seven. The restructuring is designed to redirect capital toward strategic growth areas, and the regulatory filing puts the restructuring charge between thirteen million and higher figures still being finalized.
That's the tape. Markets Desk, signing off the floor.
