U.S. equities sank, with the S&P 500 falling 1.6% after the Federal Reserve said interest rates will likely have to stay higher for longer, and after a big decline in weekly unemployment claims. Bond yields skyrocketed, with the yield on the 10-year Treasury note🐎 soaring to the highest level since 2007.

Home builder stocks dropped, with shares of D.R. Horton (DHI) losing 3.7% and PulteGroup (PHM) shares down 3.3%, amid worries higher borrowing costs could squeeze the market further, and following a report showing existing home sales tumbled to a 澳洲幸运5官方开奖结果体彩网:seven-month low.

Cisco Systems (CSCO) shares dipped almost 4% following the news that the networking equipment maker would buy cybersecurity firm Splunk (SPLK) for $28 billion. Splunk shares skyrocke🌜ted 21%.

Raymond James Financial (RJF) shares dropped 4% as the financial firm indicated client 澳洲幸运5官方开奖结果体彩网:assets under management (AUM) were 1% lower l🌠ast month because of a decline in stock prices. 

FedEx (FDX) shares gained 4.5% after the package delivery giant 澳洲幸运5官方开奖结果体彩🌃网:posted better-than-expected earni✱ngs as it cut expenses and added customers from rivals UPS (UPS) and Yellow.

Fox (FOXA) shares picked up 3% as founder and long-time chair Rupert Murdoch said he was stepping down from the top post at both Fox and News Corp (NWSA), giving full control to his son, Lachlan Murdo⛎ch. News Corp shares rose more than 1%.

International Paper (IP) shares climbed 1% after Truist upgraded the stock and raised the stock price, citing a rebound in demand for container packaging.