Stocks Decline as Chip Shares Fall and Bond Yields Rise

Market Performance: Major U.S. stock indexes fell sharply on Friday, with the S&P 500 down 1.07%, the Dow Jones down 0.51%, and the Nasdaq 100 down 1.91%, as technology shares, particularly Broadcom, faced significant declines due to disappointing sales outlooks.

Federal Reserve Commentary: Hawkish remarks from several Federal Reserve officials indicated a preference for maintaining a restrictive monetary policy due to ongoing inflation concerns, contributing to rising Treasury yields and pressure on stock prices.

Earnings Season Overview: The Q3 earnings season showed strong results, with 83% of S&P 500 companies exceeding forecasts, leading to a 14.6% increase in earnings, significantly above expectations.

Stock Movements: Notable stock movements included Broadcom's 11% drop, while Lululemon surged over 9% after reporting better-than-expected earnings, highlighting a mixed performance across sectors.