Morning Report 4 Aug 23: US sharemarkets fell on Thursday in choppy trade

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Investors weighed another rise in US Treasury yields amid signs of unexpected US economic strength and concern over a widening US budget deficit. The busy earnings week carried on, with shares of chipmaker Qualcomm down 8.2% on a fiscal third quarter revenue miss and disappointing guidance. PayPalshares slumped 12.3% after posting in-line results and a decline in active accounts, while Expediasharesshed 16.4% as gross bookings fell short of expectations. Shares of e-commerce company Etsy slid 13.7% after reporting quarterly results. Shares of iPhone maker Apple slipped 0.7%, while e-commerce giant Amazon.com added 0.6% ahead of earnings results. The Dow Jones index fell by 67 points or 0.2%. The S&P 500 index slid 0.3% and the Nasdaq index shed 14 points or 0.1%.

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