BY THE NUMBERS

Dow futures dropped about 300 points, or 1%, on Wednesday as October has so far lived up to its reputation for extreme volatility. S&P 500 and Nasdaq futures fell more than 1.2% and nearly 1.5%, respectively, in premarket trading. On Tuesday, the Dow Jones Industrial Average, S&P 500 and Nasdaq all soared roughly 1% in a rebound from the prior session's slide. On Friday, Wall Street started the new month, after a rough September, with a strong rally. (CNBC)

Many market strategists pointed out that even though October can be tricky, the fourth quarter has historically been a mostly strong period for stocks. The Nasdaq was 6% away from its Sept. 7 record close. The S&P 500 was 4.2% from from its Sept. 2 record close. The Dow was 3.7% away from its Aug. 16.

Rising bond yields on Wednesday were pressuring tech stocks, with Apple, Microsoft and Amazon all falling around 1% each in the premarket. The 10-year Treasury yield topped 1.5% after the first of three key jobs reports this week. (CNBC)

Before the opening bell Wednesday, ADP reported the private sector created 568,000 new jobs in September. U.S. companies shook off worries over the Covid delta variant and hired at a faster-than-expected pace last month. The Labor Department issues weekly jobless claims Thursday morning, one day before the big September employment report.

* As mortgage rates shoot even higher, refinance demand plummets 10% (CNBC)