Market 10/08: 58 Billion Dollar Bond Auction Fails

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Key highlights:

• Hurricane Milton becomes the 5th largest storm in history

• 58 billion dollar 3-year bond auction fails

• Chinese stocks enter correction

• Small business confidence survey stable

• Trade deficit surges in August

• EIA cuts short-term energy demand forecast

• Oil prices drop sharply -6% in the day

• FED Atlanta raises Q3 GDP forecast

• Market: NVDA carries the market amid interest rate fears