Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 17, 2022. Other companies that rely heavily on ad revenue including Alphabet Inc (GOOGL.O), Twitter Inc (TWTR.N), Meta Platforms Inc (META.O) and Pinterest Inc (PINS.N) fell between 1.8% and 7.4%. The slide in mega-cap growth stocks also comes against the backdrop of the benchmark 10-year U.S. Treasury yield hitting 15-year highs on expectations of continued aggressive rate hikes by the U.S. Federal Reserve. ET, Dow e-minis were down 100 points, or 0.33%, S&P 500 e-minis were down 17 points, or 0.46%, and Nasdaq 100 e-minis were down 91.75 points, or 0.83%. American Express (AXP.N) said its third-quarter profit had modestly improved, however shares of the company were down 3%.

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