Bitcoin falls 2.3% as Treasury yields rise

By Scott Lehtonen And David Saito-Chung The Dow Jones Industrial Average and other major stock indexes all finished with losses after moving sharply lower earlier in the day on the back of rapidly rising Treasury yields. While Caterpillar shares struggled on the stock market today, large-cap, megacap tech and biotech stocks flexed strength. Among the winners making moves were AbbVie, Amgen, NetApp, and Micron Technology. m.

ET. 7%, or 341 points, and closed at 51,179. That showed a shade of improvement from its earlier slide of more than 550 points. At one point, the blue-chip index hit a session low of 50,917.

2% to end at 7,801. 6% earlier and marked an intraday low of 7,763. 2%, closing Wednesday at 27,538. 98 a barrel before reversing for a loss of around 1%.

96. 36%, its highest level since January 2002. 5%. The slide indicates extra sensitivity among smaller firms in the face of higher borrowing costs.

Volume fell 13% on the Nasdaq vs. the prior session and rose nearly 2% on the New York Stock Exchange, early data showed. 59. It held above the long-term 200-day moving average.

The stock leapt 12% in the heaviest single-day turnover of the year so far. The move came after the company landed a massive 20-year deal to provide up to 890 megawatts of nuclear power via 11 existing reactors to power Google data centers. 3 billion to upgrade its nuclear power plants. The megacap energy firm remains in a very long basing phase.

70. Headed into Wednesday, Constellation Energy showed a relatively weak Relative Strength Rating of 64 on a scale of 1 to 99. However, its 3-month RS Rating of 96 is strong. 98 per ounce.

3% on the day. Bitcoin remains more than a third below its all-time high of $126,272. Stephen Coltman, head of macro at 21shares, a leading global issuer of exchange-traded products in the cryptocurrency markets, notes that bitcoin traders had entered 2026 with an expectation that leading central banks would be cutting interest rates. That would have benefited assets such as bitcoin.

Instead, market participants have seen the Federal Reserve and its peers around the world now in a monetary-tightening mood. This pivot has hurt alternative assets including gold and bitcoin during the first half of the year. S. S.

Treasury bonds. 6% in the week ended Aug. 21 alone. "The Bessent intervention was very important," Coltman told Investor's Business Daily in an interview.

He added that monetary policy needs to be watched closely as a renewed focus on taming inflation has generally been negative for safe-haven assets such as cryptocurrencies. However, the possibility that actions to stabilize interest rates in heavily indebted countries such as France could change the narrative. Only a few years ago, "France was selling debt near zero percent or at negative yields. But now it's more than 5%.

It's a huge fiscal shock in a country that already has a deficit problem," Coltman said. But it's quite possible that the European Central Bank might make a move to keep the spreads in bond yields between France and its large neighbor Germany from worsening. The ECB has taken such steps in prior crises with other EU members, such as Italy. 37 in a five-month cup-with-handle pattern.

m. BEST AND WORST INDUSTRY GROUPS TODAY Looking at the 142 industries tracked daily by Investor's Business Daily, a majority of the top 10 performers come from the medical space. Pharmaceutical firms rose 2% on a market cap-weighted basis, second only to a 5% jump by the education and media software industry. Managed care, hospital, profitable biotech and revenue biotech industry groups also fared well with gains of 1% each or more.

2%. The group is poised for its third straight down week. A chart of the industry group on MarketSurge shows it testing support at the 10-week moving average for the first time since it rallied sharply above this key technical level in the week ended Aug. 21.

Some oil and gas groups also fell hard, with field services, machinery and equipment and royalty trust firms sinking 3% or more. 6%. 29. The megacap industrial play is down 4% for the week and threatening to halt a two-week rebound.

Caterpillar has been testing support at the long-term 40-week moving average for a seventh straight week. 46. m. ET STOCK MARKET TODAY: TWO BRIGHT LIGHTS IN THE BIOTECH, MEDICAL AREAS Biotech and medical testing firms have been rocked by volatile trading in recent days.

However, some highly rated companies within the Investor's Business Daily database continue to rise and are working on new bases. 03 set in August. Amgen also rebounded back above the 50-day moving average. The company, especially known for its pioneering medicines to treat anemia among patients undergoing chemotherapy, is slated to report third-quarter results on or around Nov.

3. 79 a share on a 5% lift in sales to $10 billion. Amgen holds a 91 Composite Rating on a scale of 1 to 99. 47.

66. 84. AbbVie's three-month Relative Strength Rating of 82, as seen in MarketSurge, means the North Chicago-based expert in immunology has outperformed 82% of all companies in the Investor's Business Daily database over the past three months. Headed into Wednesday's trading, the 12-month RS Rating is 77.

The iShares Nasdaq Biotechnology Index exchange-traded fund, which undercut its 50-day line on Tuesday, rebounded 1%. m. ET TECH STOCKS ON THE MOVE Despite declines across indexes and some tech-focused ETFs, some leaders in the vast sector firmed up. 14.

Volume was running hot, more than 60% above its average pace over the past 50 sessions. The expert in data management equipment and software broke out of a narrow cup with handle on Sept. 21. 62.

Since then, after days of sideways action, NetApp really took off in the last week of October. The gain since the breakout has now reached 18%, just shy of a key Investor's Business Daily sell rule of taking at least partial profits at 20%-25%. Back on Sept. , posted fiscal first-quarter results.

03 billion. 1 billion. NetApp is currently a full-size position on the IBD Leaderboard model stock portfolio. On Wednesday, Evercore ISI reportedly upgraded its rating on NetApp to outperform and set a price target of 300.

2%. It is trying to hold at the 21-day exponential moving average while carving out the right side of an emerging new base. Dell Technologies, which found buyers near its own 21-day line last week, also gained more than 1%. In the data storage space, Micron also wiped away early losses and strode ahead more than 2%.

96. 13. m. ET STOCK MARKET TODAY: CHIPS FALL EN MASSE Disk drive makers and semiconductor companies paced the downside early.

5% in recent action. (MORE TO FOLLOW) Dow Jones Newswires October 07, 2026 17:14 ET (21:14 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.