US stock markets drop as big tech slips and bond yields go up

Wall Street finished the day lower after major tech companies posted weak results and bond yields went up. Alphabet and Amazon led the market decline with disappointing performances. At the same time, rising Treasury yields added more pressure on stock prices. Oil prices jumped after remarks made by the Iranian President at the UN, which hurt overall market mood. Even with these drops, business activity in the United States grew at a very high rate. This strong economic growth has raised talks that the Federal Reserve might raise interest rates soon.