A global equity selloff deepened as chip stocks plunged on Wall Street and in Asia, further unwinding this year’s blistering rally in the artificial intelligence trade. Treasuries gained on haven demand, while the dollar weakened. MSCI Inc.’s Asia Pacific equities gauge slid 3.1%, heading for its lowest close since July. South Korea’s Kospi Index — a bellwether for the AI trade — led regional declines, tumbling 8% and triggering a trading halt. The gauge is set for its weakest close since April as Samsung Electronics Co. and SK Hynix Inc. both sank about 10%. Stock futures pointed to further losses for US tech shares, with those for the Nasdaq 100 Index falling 1.1%. The contracts also indicated European stocks to decline about 1% at the open. Wednesday’s slump in chip stocks was spurred by the fastest US inflation in five months, which prompted traders to ramp up bets on further rate hikes by the Federal Reserve, even if officials paused in October. While Treasuries initially sank in reaction to the US consumer price index data, they recovered most of the losses on appetite for bond yields near multiyear highs. Equities are coming under pressure after a blistering rally and concerns about whether billions poured into AI will deliver commensurate returns. Adding to the strain, stubborn US inflation, fueled by elevated oil prices since the Middle East war began, is raising the prospect of more aggressive tightening by central banks. Treasuries extended their gains in Asian trading as the selloff in equities spurred demand for haven assets. Yields on benchmark 10-year notes fell nine basis points to 5.09%, while those on policy-sensitive two-year securities slid 10 basis points to 4.70%. The yield on the five-year also slid 10 basis points. Japan’s five-year bond yield fell 5.5 basis points to 2.315%. The Bloomberg Dollar Spot Index dropped 0.3% after reaching the highest since May 2025 on Wednesday. Gold recovered after three days of declines to trade at about $4,145 an ounce. Global crude oil benchmark Brent fell 1.6% to $104.35 a barrel as concerns over Middle East supply disruptions eased. Fed Chairman Kevin Warsh has vowed not to steer markets with his own near-term outlook for monetary policy. But the inflation surprise will heighten scrutiny of his remarks Friday in Bangkok, where he is scheduled to appear in a fireside chat with International Monetary Fund Managing Director Kristalina Georgieva. Markets now price about 40 basis points of Fed hikes by the end of January, with the odds of an October move also edging up. Traders remain focused on the technology sector after after CoreWeave Inc. shares plunged as much as 17% Wednesday. The firm’s debt due in 2032, which investors bought at par four months ago, traded at less than 78 cents on the dollar. The selloff on Wall Street pushed the Russell 2000 Index into a correction, while a closely watched gauge of US semiconductor stocks had its longest daily losing streak since May 2025. The US market’s longest stretch of tranquility since before the Covid-19 pandemic also came to an end. Despite the selloff in stocks, two Chinese issuers were marketing dollar bonds Thursday. That’s on top of six other borrowers that have raised a combined $4.24 billion this week as issuers scrambled to lock in yields before borrowing costs escalate further A key test for the AI Trade comes later Thursday when chip bellwether Taiwan Semiconductor Manufacturing Co. reports earnings. With strong results from global chip majors failing to boost the AI trade, TSMC faces a high bar to impress investors. Elsewhere, Anthropic PBC told prospective investors its third-quarter revenue hit $16.8 billion, according to people familiar with the matter, as the artificial intelligence model maker pushes ahead with plans to go public. The numbers were perceived by some analysts as below expectations. US After Hours HOMB -1.4%, STT -1.1% lower on earnings.
Nikkei -5%% Hang Seng -1.20% CSI -1.54% Kospi -8.88% Shanghai -1.64% Shenzen -2.00%
Eur$ 1.1218 CNH 6.6927 CNY 6.6916 JPY 157.92 GBP 1.3247 CHF 0.8298 RUB 84.3748 TRY 49.4139 WTI$ 94.13 -1.01% Gold 4,146.5 +1.54% BTC 81,396 -0.43% ETH 2,373.60 -1.81%
S&P -0.42% Nasdaq -0.99% EuroStoxx -0.92% FTSE -0.19% Dax -0.46% SMI +0.03%
Macro :
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- Ukraine to Resume Russia Refinery Strikes, Zelenskyy Tells FT
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Keep an eye on :
Keep an eye on :
- AMZN US : Arianespace to Launch 36 Amazon Leo Satellites Earliest Nov. 23
- ANA SM : VicGrid Picks Acciona as Gippsland Project Development Partner
- Anthropic IPO : Anthropic Results May Aid IPO but Not AI Trade, Analysts Say
- ANTO LN : Antofagasta 3Q Copper Production Misses Estimates
- AAPL US : Smartphone Shipments Crash 22% in Worst Quarter Ever, IDC Says
- AAPL US : Smartphone Shipments Crash 22% in Worst Quarter Ever, IDC Says
- AAPL US : Apple Joins Nvidia As the Second Stock To Be Worth $5 Trillion
- ARYN SW : Aryzta to Propose Heiner Kamps as New Chairman
- ASML NA : ASML CEO Says Zeiss Isn’t a Bottleneck for Capacity Expansion
- BAC US : *WARREN: BOFA SHOULD FACE CRIMINAL ANTI-MONEY-LAUNDERING PROBE
- BA US : Boeing, GE CEOs Meeting With Duffy on Certification Reform (1)
- BSP US : *BENDING SPOONS CLOSES UP 41% IN BEST ONE-DAY GAIN SINCE DEBUT
- CAT US : Caterpillar Shares Eye 30% Slump as Oil Bites, AI Rally Stalls
- CRWV US : CoreWeave’s Big Dream Crashes Into Reality as Yields Top 15%
- DEME BB : DEME Gets Contract for Dutch Wind Turbine Installation Project
- DOXM SW : DocMorris Boosts FY External Revenue Forecast
- DRW3 GY : Draegerwerk Prelim 3Q Ebit About EU48M
- ENTRA NO : Entra 3Q Rental Income Meets Estimates
- FAST NA : Fastned 3Q Revenue Related to Charging EU51.3M
- HYQ GY : Hypoport 3Q Europace Total Transaction Vol. EU19.04b
- EQT US : TPG scoops up 15 per cent of takeover target Equity Trusteeseqt
- EQT SS : EQT Agrees to Buy Stockbridge
- EQT SS : EQT 3Q Total Investments EU7B
- EQT SS : EQT Nearly Doubles Investments to €30 Billion Over Past Year
- ERICB SS : Ericsson 3Q Adjusted Ebita Beats Estimates, Ericsson Names Patrick Johansson Head of New APAC Market Area
- EL FP : Delfin Weighs Del Vecchio Heirs Buy Out for Up to 25%: Corriere
- EXA FP : Exail Technologies 3Q Revenue EU121M
- FAST NA : Fastned 3Q Revenue Related to Charging EU51.3M
- GFS US : *TRUMP ANNOUNCES $21B GLOBALFOUNDRIES SEMICONDUCTOR DEAL
- GTT FP : GTT Gets Hanwha Ocean Order for Tank Design of Two LNG Carriers
- HAZVAS NA : Havas NV 3Q Net Revenue EU703M Vs. EU656M Y/y
- IBRX US : FDA Expands ImmunityBio Unit‘s Anktiva Use in Bladder Cancer
- LULU US : Lululemon Makes Changes to Fabric Team After See-Through Mishaps
- 2454 TT : ByteDance in Talks to Secure MediaTek AI Chips for Data Centers
- NEL NO : Nel 3Q Orders NOK253M Vs. NOK57M Y/y
- NEX FP : Nexans Names Artaud Chief Operating Officer
- NDA FH : Nordea Suspends Stock Buybacks Pending ECB Clarity on Capital
- NVDA US : Nvidia-Backed AI Drugmaker Iambic Raises $150 Million in US IPO
- NVDA US : Nvidia CEO Says He Would Cut Off Customers Who Build Unsafe AI
- NVDA US : Nvidia Backs Swedish AI Supercomputer for Ericsson, Saab, SEB
- 000660 KS : SK Hynix Ties New US Factory to China Chip Gear Exports: Reuters
- ORCL US : Oracle Falls as Much as 10%, Trades in Support Zone
- RI FP : Pernod Ricard 1Q Organic Sales Beat Estimates
- PWP US : Perella Sinks as FT Says Merger Talks With Piper Abandoned
- PS US : Pershing Square Shares Extend BofA Downgrade-Driven Declines
- RKLB US : Rocket Lab Falls After Neutron Rocket Debut Delayed to 2027
- SGO FP : Gibraltar to Sell Infrastructure Unit to Saint-Gobain for $208M
- SIP BB : Sipef 3Q Palm Oil Output 136,927 Metric Tons Vs. 117,565 Y/y
- SLIGR NA : Sligro 3Q Sales EU660M Vs. EU664M Y/y
- SPCX US : Tillis Calls for Pentagon Probe Into SpaceX Satellite System
- SPCX US : Ukraine Asked US About Loss of SpaceX Satellite Services: Axios
- SPCX US : Musk Says Limits on Starshield Speed or Usage Decided by POTUS
- SLR SM : Spain’s Solaria to Build Solar Plant for Uruguay Data Center
- TCPC US : Boaz Weinstein’s Saba Takes Stake in BlackRock’s Troubled TCP
- TSLA US : Tesla-SpaceX Deal News Possible This Year, Barclays Analyst Says
- TOM2 NA : TomTom Narrows FY Revenue Forecast
- VACN SW : VAT 3Q Net Sales CHF376.4M Vs. CHF257.9M Y/y
- VAL US : Valaris Says Transocean Merger Gets Brazil Antitrust OK
- WALLB SS : Wallenstam 3Q Profit After Tax Beats Estimates