Bond yields trickled up a few basis points on U.S. Treasuries as remarks by Commerce Secretary Wilbur Ross crushed any remaining expectations for smooth and timely U.S.-China trade talks. Meanwhile, demand for U.S. mortgage applications continued to fall, indicating serious weakness in the U.S. housing market.

CNBC: “US trade talks with China on ‘hiatus,’ Commerce Secretary Ross says”
NYT: “Trump Opens New Front in His Battle With China: International Shipping”
CNBC: “Twitter says it found more than 10 million posts by ‘potentially state-backed’ Iranian and Russian accounts dating back to 2009”
New Yorker: “In the Wake of Khashoggi’s Disappearance, Saudi Arabia’s Crown Prince Is Pushed to the Brink” by Dexter Filkins
CNBC: “History says the market sell-off isn’t over and this drop will be ‘sharper than the first’”
CNBC: “Weekly mortgage applications tank 7.1% as interest rates surge to a near 8-year high”
MarketWatch: “You may be surprised at how many S&P 500 stocks have fallen at least 50% from record highs”

Here are some interesting numbers about the S&P 500, according to data provided by FactSet.

• Among the S&P 500, 250 stocks were down 20% or more from their all-time closing highs (adjusted for splits and spin-offs) as of the close on Oct. 15.

• 162 were down at least 30% from their all-time highs.

• 113 were down at least 40% from their all-time highs.

• 69 were down at least 50% from their all-time highs.

Daily Beast: “Robert Mueller Ready to Announce if Trump Campaign Colluded With Russia: Report”
Politico: “‘We’re getting our asses kicked’: Republicans massively out-raised in election homestretch”
CNBC: “Apple launched a new privacy website that lets you find all the data the company has on you“