Stocks slipped for a second straight day as concerns over lofty technology valuations weighed on sentiment. Treasuries advanced and investors sought the safety of haven currencies such as the yen. Asian shares fell 1.1% and contracts for the S&P 500 index retreated 0.2% — both gauges well off the session’s low — after tech shares were hit the hardest on Wall Street. Although sentiment got better as the trading session progressed, it was weak at the start after Super Micro Computer Inc. shares slumped in late trading and Advanced Micro Devices Inc. failed to impress investors with its revenue forecast. South Korea’s Kospi — a poster child for the artificial intelligence boom and one of this year’s top-performing markets — dropped 2.9% after AI-fueled gains drove its benchmark to a record earlier this week. Japan’s Nikkei dipped 2.9%, having pared earlier losses. As investors sought safety, Treasuries advanced across the curve, with the yield on the 10-year falling two basis points to 4.06%. Gold rebounded after the biggest drop in more than a week. The yen strengthened to 153.43 against the dollar. The pause in the global stock rally came after the booming outlook for AI and hopes the Federal Reserve will keep cutting rates sent the US stock benchmark up by almost 40% from its lows in April. But those gains have been confined to fewer shares as sentiment and technical indicators showed signs of overheating, leading Wall Street chiefs to note the possibility of a retreat as a healthy development. Warnings about frothy stock valuations are easy to find after a record-breaking rally pushed prices to levels typically associated with exuberance. Optimism had turned intense in recent months, with many traders focused on chasing gains rather than questioning lofty prices. Yet those solid gains, combined with the recent narrowness of the advance, spurred vulnerability worries. Selling pressure trimmed roughly $500 billion in combined market capitalization from the Philadelphia Semiconductor Index on Tuesday and a Bloomberg gauge tracking Asia chip stocks on Wednesday. Some investors also said that sentiment improved after Chinese government’s announcement to continue to suspend its 24% tariffs on some US goods from Nov. 10 for a year while keeping 10% tariffs. Technology stocks led the losses in Asia with Disco Corp. shares slumping more than 9% and Samsung Electronics Co. 3.2%. South Korea briefly halted sell orders for program trading after Kospi 200 futures dropped more than 5%, triggering a so-called sidecar for the first time since April. Elsewhere, the Australian dollar surged to a 12-year high against the kiwi early Wednesday after a jump in New Zealand’s jobless rate. In commodities, crude oil benchmark Brent pared a drop to trade near $64 a barrel, while copper and iron ore were flat after erasing earlier losses. US After Hours Busy night for earnings; LITE +14.1%, TDC +13.5%, ATEN +7.1%, KD +5.1%, TOST +2.3%, AMGN +2.2% moving higher; TREX -26.8%, PINS -20.1%, UPST -15.3%, CAVA -8.2% lower on earnings.
Nikkei -2.50% Hang Seng +0.02% CSI +0.46% Shanghai +0.44% Shenzen +0.71%
Eur$ 1.1491 CNH 7.1334 CNY 7.1287 JPY 153.49 GBP 1.3026 CHF 0.8095 RUB 81.0000 TRY 42.0899 WTI$ 60.50 -0.10% Gold 3,970.60 +0.98% BTC 101,960 +1.69% ETH 3,328 +3.58% SOL 157 +3.92%
S&P -0.05% Nasdaq -0.16% EuroStoxx -0.50% FTSE -0.12% Dax -0.41% SMI -0.06%
Macro :
- EU Countries Agree on 90% Emissions Reduction Goal for 2040
- Global Chip Selloff Erases $500 Billion in Value as Fears Mount
- Trump Revives Billionaire Isaacman’s Nomination to Top NASA Job
- Trump Says He Met Swiss Leaders, Orders More Trade Talks
- Europe Must Join Forces on Defense, Germany’s Nagel Says
- Democrats Score Biggest Wins Since Trump Returned as 2026 Looms
- ECB’s digital euro plan hits resistance from banks and EU lawmakers
Keep an eye on :
Keep an eye on :
- AC CN : Air Canada Narrows FY Adjusted Ebitda Forecast
- AH NA : Ahold Delhaize 3Q Adjusted Operating Margin Beats Estimates
- AKRBP NO : DNO Agrees Multi-Asset Swap With Aker BP on Norwegian Shelf
- ALFEN NA : Alfen 3Q Adjusted Ebitda Beats Estimates
- AMBUB DC : Ambu Sees 2026 Organic Growth 10-13%; 4Q Ebit Misses Estimates
- AMD US : AMD Falls as Mixed Report Can’t Extend Year’s Rally: Street Wrap
- AMZN US : Amazon Says Berkshire Utility Failing to Power Data Centers
- AMRZ SW : Amrize’s Brouwer Buys $207,100 of Shares
- AG1 GY : AUTO1 Boosts FY Adjusted Ebitda Forecast
- BARN SW : Barry Callebaut Targets Lower Debt as Profit Beats Expectations
- BRK/A US : Amazon Says Berkshire Utility Failing to Power Data Centers
- BETA US : Electric Plane Maker Beta Tech Climbs 5.9% After $1 Billion IPO
- BMW GY : BMW 3Q Automotive Ebit Margin Misses Estimates
- EN FP : Bouygues 9M Adj. Current Oper Income; Sees FY Sales Flat
- BPOST BB : Bpost 3Q IFRS Loss EU34.6M Vs. Loss EU25.1M Y/y
- CAVA US : Cava Cuts Outlook as Fast Casual Customers Tighten Belts
- CTM SS : Catena Media 3Q Adj. Ebitda Cont Ops EU2.94M Vs. EU1.34M Y/y
- CAT US : Caterpillar Sets New Growth Goals as Energy Demand Soars
- CWEN/A US : Clearway To Combine Gas and Renewables for Big Data Centers
- CLAB SS : Cloetta 3Q Net Sales SEK2.18B
- CRI US : Compagnie Chargeurs 3Q Revenue EU164.2M Vs. EU165.3M Y/y
- DELL US :
- DEMANT DC : Demant’s Narrowing of Guidance Widely Expected: Street Wrap
- DNO NO : DNO Agrees Multi-Asset Swap With Aker BP on Norwegian Shelf
- EL US : Estee Lauder Holders Offer Up to 11.3m Shares, Estee Lauder Offering by Holders Prices at $90/Share
- EL US : Lauder Heir’s Family Seeks $1 Billion in Estee Lauder Share Sale
- EVT GY : Evotec 9M Revenue EU535.1M Vs. EU575.7M Y/y
- EVT GY : Evotec Sells Just-Evotec Biologics Toulouse Site to Sandoz
- FBK IM : FinecoBank 3Q Net Income Beats Estimates
- FRE GY : Fresenius SE Boosts FY Ebit Forecast, Fresenius SE Raises Profit Guidance After Growth in Revenue, Earnings
- GALD SW : Galderma Receives U.S. FDA Approval for Restylane® Lyft™ for the Enhancement of the Chin Profile
- GRF SM : Grifols 3Q Adjusted Ebitda Beats Estimates
- GXO US : GXO Logistics Maintains FY Adjusted EPS Forecast
- RMS FP : Hermes Buys 15% Stake in Italy’s Lanificio Colombo: Corriere
- IMG CN : Iamgold 3Q Adj EPS Cont Ops Beats Estimates
- IBM US : IBM to Cut Thousands of Roles in Focus on Software Growth
- INDXA SM : Indexa Capital Group Rated New Outperform at Renta 4
- ISS DC : ISS Narrows FY Organic Revenue Forecast
- KW US : Kennedy-Wilson Gets Buyout Proposal From CEO, Fairfax Financial
- K CN : Kinross Gold 3Q Adjusted EPS Beats Estimates
- KCO GY : Kloeckner Maintains FY Adjusted Ebitda Forecast
- SKB GY : Koenig & Bauer 9M Ebit EU1.6M Vs. Loss EU55.6M Y/y
- KTN GY : Kontron 9M Revenue EU1.18B Vs. EU1.21B Y/y
- KPN NA : KPN Maintains FY Adjusted Ebitda After Leases Forecast
- MC FP : LVMH signals its faith in China as ‘future of luxury’ & WWD
- MSFT US : Microsoft Neocloud Deals Cross $60 Billion in AI Spending Frenzy
- MSFT US : Microsoft Neocloud Deals Cross $60 Billion in AI Spending Frenzy
- MONT BB : Montea 9M Adjusted EPS EU3.61
- MOS US : Mosaic 4Q Phosphates Sales Volumes Forecast Misses Estimates
- MOWI NO : Mowi 3Q Net Income Beats Estimates, Mowi Boosts FY Harvest Forecast
- KN FP : Natixis Sees M&A Rebounding in China Amid Growth Opportunities
- NEXI IM : Nexi 3Q Operating Revenue Meets Estimates
- NOKIA FH : Nokia Agrees With SoftBank Corp. to Supply Network Equipment
- NOVOB DC : Novo 3Q Ebit Misses Estimates, Novo Narrows FY Sales at Constant Exchange Rates Forecast
- NVA CN : Ovintiv to Buy Canada’s NuVista Energy for $2.7 billion
- NVDA US : Nvidia’s Blackwell Not For Sale to China ‘At This Time’: Leavitt
- ORRON SS : Orron Energy 3Q Ebitda Loss EU4.1M Vs. Loss EU7.1M Y/y
- PNDORA DC : Pandora 3Q Revenue Misses Estimates
- PETR4 BZ : Petrobras Shallow-Water Oil Field Sales Get Derailed in Brazil
- PZZA US : Papa John’s Sinks on Report Apollo Withdrawing Take-Private Bid
- QIA GY : Qiagen 3Q Adjusted EPS Beats Estimates; CEO to Step Down
- RUI FP : Rubis 3Q Revenue EU1.58B, Rubis Maintains FY Ebitda Forecast
- RUI FP : Rubis 3Q Revenue EU1.58B, Rubis Maintains FY Ebitda Forecast
- SFL IM : Safilo Group Says Price Adjustments and Reducing Reliance on China Bolstered Q3 - WWD
- SAMPO FH : Sampo 3Q Net Income Beats Estimates
- SHL GY : Siemens Healthineers Sees 2026 Comparable Sales +5% to +6%
- SINCH SS : Sinch 3Q Net Sales Miss Estimates
- SMCI US : Super Micro Shares Fall on Disappointing Profit Forecast
- STORB SS : Storskogen 3Q Ebit Beats Estimates, Storskogen strengthens its Nordic leadership in professional haircare
- SYDC DC : Sydbank Maintains FY Net Income Forecast
- TGS NO : TGS & Chevron Sign Deep Water Seismic Capacity Agreement
- TRVG US : Trivago 3Q Adjusted Ebitda Beats Estimates
- UBSG SW : UBS Gets Sign of Support from Swiss Lawmakers in Capital Debate
- ULVR LN : Unilever’s Ice Cream Spinoff Trading Debut Faces Shutdown Delay
- UPS US : Three Dead, 11 Injured After UPS Cargo Jet Crashes in Kentucky
- VWS DC : Vestas 3Q Ebit Before Significant Items Beats Estimates, Vestas Narrows FY Revenue Forecast, To Start EUR150M Share BuyBack
- VNA GY : Vonovia Sees 2026 Adj. Ebitda EU2.95B to EU3.05B, Est. EU2.95B
- VPK NA : Vopak 3Q Revenue EU321.6M Vs. EU325.0M Y/y
- VOW GY : VW to Develop Own Chip for Advanced Driving Assist in China Push
- WAWI NO : Wallenius Wilhelmsen 3Q Ebitda Beats Estimates
- WSU GY : Washtec 9M Ebit EU32.4M Vs. EU27.6M Y/y
- WKL NA : Wolters Kluwer 9M Organic Revenue +6%