U.S. stocks closed lower Wednesday after the 10-year Treasury yield reached its highest level since 2007 following strong September PMI data, increasing expectations for another Federal Reserve rate hike and pressuring high-growth shares. The Dow Jones Industrial Average fell 0.68% to 51,511.59, the S&P 500 declined 0.75% to 7,706.03 and the Nasdaq dropped 1.13% to 26,936.03. Meta Platforms rose 1.02% to $744.10 after announcements at its Connect event, including new glasses, the company’s first VR glasses and updates to Muse, its personal agent, which Mark Zuckerberg said now has voice and real-time video and will come to glasses. McDonald’s fell 4.81% to $238.32 after Investor Day comments on execution shortcomings, while Beneficient surged 438.73% to $2.90 before falling 29.03% in extended trading after proposing a restructuring involving about $130 million in contested debt, roughly $850 million in preferred equity and $88 million in contractual obligations. Palantir rose 3.68% to $191.79 after Rosenblatt reiterated its Buy rating and $225 price target despite Palantir losing an $875 million Federal Aviation Administration contract. Palo Alto Networks gained 5% to $393.30 as investors assessed a new Unit 42 cybersecurity service using AI models from Anthropic and OpenAI.