US stock markets closed in the red on October 25th, with Alphabet Inc.'s shares plunging after its Q3 financial results. This coincided with a rise in US Treasury yields, sparking fears of prolonged high interest rates. New home sales in the US surged by 12.3% in September. The Dow Jones, S&P 500, and Nasdaq all declined. Asian markets were mostly lower, with Japan's Nikkei 225 and Australia's S&P/ASX 200 declining, while China's Shanghai Composite and Shenzhen CSI 300 rose. European stocks also tumbled, erasing most of their 2023 gains.