US Stock Market today: Wall Street key indices slump on renewed tech selloff, Walmart dips 2.2%

Wall Street key indices tumbled on Friday, on a renewed selloff in technology stocks. Hawkish comments from Federal Reserve officials raised concerns about an interest rate cut in next month.

The historic, record-long US government shutdown, which recently concluded, created a critical data vacuum. The delay and potential non-release of key economic indicators, such as the October jobs report and inflation data, left both the Federal Reserve and traders worried. This lack of clear, up-to-date information increased market uncertainty, making investors risk-averse and further justifying the Fed's cautious stance on policy easing.

At 9:36 a.m. ET, the Dow Jones Industrial Average fell 568.05 points, or 1.24%, to 46,889.17, the S&P 500 lost 73.29 points, or 1.09%, to 6,664.20 and the Nasdaq Composite lost 317.39 points, or 1.44%, to 22,552.96.

In the bond market, the yield on the 10-year Treasury held steady at 4.11%.

Key Stock Movers

Walmart stock fell 2.2% after the retailer announced that CEO Doug McMillon would retire next year.

Applied Materials shares dropped 6.3% after the company flagged expectations of weaker China spending next year on tighter US export control curbs.

Warner Bros Discovery rose 2.4% after the entertainment company said it had amended CEO David Zaslav's employment agreement amid a strategic review of its business.

Cidara Therapeutics shares more than doubled – soared 105.38% - after Merck announced it will buy the company in a nearly $9.2 billion deal.

Bullion Market

Gold prices declined sharply on Friday on a broader market sell-off.

As of 10:45 AM ET (1545 GMT), spot gold fell 2.3% to $4,072.49 per ounce. US gold futures for December delivery fell 2.8% to $4,075.10 per ounce.

Elsewhere, spot silver edged down 2.6% to $50.95 per ounce, platinum fell 1.5% to $1,556.35, and palladium lost 0.6% to $1,418.93.

Crude Oil

Oil prices climbed on Friday, boosted by supply fears after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack.

Brent crude futures were up $1.04, or 1.65%, at $64.05 a barrel by 1428 GMT, while US West Texas Intermediate crude advanced $1.15, or 1.96%, to $59.84 a barrel.

The attack on Friday damaged a ship in port, apartment blocks and an oil depot in Novorossiisk, injuring three of the vessel's crew, Russian officials said.