Tech Slide Pushes S&P 500 to Lowest Level in Over Three Months

The S&P 500 slumped to a more than three-month low as weaker consumer confidence data raised concerns about the economy amid higher interest rates and inflation. Treasury yields remained at multi-year highs, with JPMorgan's Jamie Dimon warning that rates could reach 7%. Tech stocks resumed their slide as investors priced in the impact of higher rates on growth stocks. Amazon fell over 3% after the FTC and 17 state AGs filed an antitrust lawsuit against the company. Lawmakers in Washington are scrambling to avert a government shutdown by the Oct. 1 deadline.