The Nasdaq fell more than 2% in its worst session since July, with money rotating into Treasuries and yields easing. Reporting attributes the drop to two overlapping threads: investors questioning the return on AI capital expenditure, and oil rising on renewed Middle East tension. Funds concentrated in AI names fell harder than the broader market, pointing to pressure on crowded growth positions.
Japanese exports grew just 16.7% in September, well short of expectations, while imports rose 18.9%, also missing the 19.6% consensus forecast, pointing to softer external demand alongside domestic consumption.
Australian data centre operator NextDC sharply cut its full-year earnings guidance and shares slumped about 40% in a single session. The company blamed delays to power supply at its Melbourne facility, which has also faced opposition from local communities and stakeholders.
US September CPI climbed 3.7% YoY above expectations; Morgan Stanley beat equity trading estimates by $9.1B, BofA profit dropped 17% with a $1.2B charge, and ASML shares surged on chip equipment order recovery. Inflation stickiness and earnings divergence remain central.
Bloomberg market wrap shows that the US Treasury market has stabilised after a string of selloffs, while the major US equity benchmarks continue to come under pressure.
[Brief] CNBC reported on September 8 that US stock futures fell sharply at Monday’s open amid rising international oil prices, with Dow Jones futures dropping about 300 points and both S&P 500 and Nasdaq futures showing declines of varying degrees. The oil price increase was mainly driven by escalating geopolitical tensions in the Middle East and rising transport risks in the Strait of Hormuz. Investors are concerned that sustained high oil prices will push up inflation pressure and force the Federal Reserve to delay its rate-cutting pace. Asian markets came under pressure early in the session, with yen appreciation and Iranian warnings of retaliation further exacerbating risk-averse sentiment. ...
South Korea’s Kospi index suffered a major sell-off as investors dumped Samsung shares in frustration. The market rout reflects structural challenges facing Korea’s tech sector amid global semiconductor cycle volatility.
Oil prices have returned to pre-conflict levels for the first time in four months, as the Brent crude erased its war premium and shipping flows through the Strait of Hormuz show signs of recovery. Editor: GoodInfo Global News Team
SpaceX Stock Tumbles 16.4%, Erasing Most IPO Gains SpaceX shares plunged 16.4% in Monday trading, marking the company’s worst single-day decline since its historic $75 billion IPO on June 12. The selloff erased most of the gains the stock had accumulated since going public on NASDAQ. According to CNBC and Yahoo Finance, the stock came under heavy selling pressure throughout the session, extending a three-day losing streak that has brought the cumulative decline to nearly 20%. The drop coincided with a broader weakness in technology stocks, with the S&P 500 closing lower on the day. ...
Core Summary SpaceX completed its initial public offering on June 15, setting the record for the largest aerospace IPO in history. In premarket trading on its debut day, shares surged approximately 6%, reflecting strong market enthusiasm. ARK Invest, led by renowned investor Cathie Wood, purchased over $500 million worth of SpaceX shares on the first trading day, becoming one of the largest institutional investors in the offering. Analysts note this investment scale reflects strong institutional confidence in the long-term growth prospects of the commercial aerospace industry. ...