U.S. Stocks Regain Ground After Initial Slump But Remain Mostly Lower

Market Overview - After an initial sharp decline, major stock indices have recovered some losses but remain in negative territory, with the Nasdaq down 201.76 points (0.9%) at 22,492.84, the S&P 500 down 31.32 points (0.5%) at 6,623.40, and the Dow down 65.95 points (0.1%) at 46,001.63 [1] Trade Tensions - Renewed concerns about trade tensions between the U.S. and China have contributed to the market pullback, following President Trump's conciliatory remarks that had previously boosted the market [2] - A spokesperson from China's Ministry of Commerce indicated that China's export controls on rare earths are a response to U.S. restrictions on Chinese firms, emphasizing that the U.S. has overstated national security and adopted discriminatory practices [3] Company Earnings - Wells Fargo shares surged by 6.1% after reporting better-than-expected third-quarter results and raising its profitability target [5] - Citigroup also saw an increase in its stock price following third-quarter results that exceeded estimates, while Johnson & Johnson and JPMorgan Chase experienced declines despite reporting better-than-expected results [5] Sector Performance - The NYSE Arca Computer Hardware Index is down by 1.5%, and the Philadelphia Semiconductor Index has lost 1.3%, indicating notable weakness in the computer hardware and semiconductor sectors [6] - Software and oil service stocks are also experiencing weakness, while airline stocks have shown strong gains [6] International Markets - In the Asia-Pacific region, stocks mostly declined, with Japan's Nikkei 225 Index down 2.6% and Hong Kong's Hang Seng Index down 1.7% [7] - Most European stocks also moved lower, with the German DAX Index down 0.7% and the French CAC 40 Index down 0.2%, although the U.K.'s FTSE 100 Index remained slightly above the unchanged line [7] Bond Market - Treasuries have pulled back near the unchanged line after initial strength, with the yield on the benchmark ten-year note down to 4.044% after hitting a low of 4.015% [8]