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Global Stocks Decline as Chipmakers Struggle, Gold Reaches New High

Market uncertainty ahead of the U.S. election and mixed tech earnings contribute to a volatile trading day.

  • U.S. and global stock indices fell, with significant declines in the semiconductor sector following a disappointing forecast from Advanced Micro Devices.
  • Gold prices surged to a record high, driven by investor uncertainty ahead of the upcoming U.S. presidential election.
  • Alphabet's stock rose after surpassing revenue expectations, while Meta's shares dipped due to anticipated increases in AI infrastructure costs.
  • Eli Lilly's shares dropped sharply as the company reported lower-than-expected revenue from its key pharmaceutical products.
  • U.S. economic data showed stronger-than-expected private payroll growth, but the Federal Reserve's interest rate decisions remain a focal point for investors.
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