October 21, 2025
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10:25Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
A rally that put stocks on the brink of all-time highs wavered as calls for a breather surfaced amid signs of buyer exhaustion. Gold and silver saw steep losses as the dollar rose.
Equities struggled to gain traction, with the S&P 500 closing little changed. Despite recent de-risking amid concerns over trade and credit, stock exposure among global macro hedge funds and long-only strategies remain at the highest
in over a year, according to Barclays Plc.
While the US government shutdown has caused an economic data vacuum, drawdowns in equities have been short-lived as investors see them as opportunities to add risk to their portfolios.
The Dow Jones Industrial Average hit a record amid a bullish outlook from 3M Co. Meantime, Alphabet Inc. sank as OpenAI took on Google with an AI-Powered ChatGPT browser. In late hours, Netflix Inc. said a tax dispute with Brazil cut into earnings. Texas Instruments Inc. gave a tepid forecast.
Treasury 10-year yields fell two basis points to 3.96%. Bitcoin bounced. Gold and silver saw the biggest rout in years as investors locked in profits on concern that the recent historic rally in the precious metals left them overvalued.
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