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Stocks slid sharply as investors reworked expectations for a December Fed rate cut and reduced exposure to AI winners. The S&P 500 and Nasdaq led losses, with the Dow down several hundred points; volatility spiked as tech and growth names sold off while energy and select defensives outperformed. Catalysts included Fed commentary, Nvidia/AI jitters and shutdown-related data uncertainty.
Verizon is planning a sweeping workforce reduction as it restructures under new leadership to cut costs and stem subscriber losses. The move signals major change across telecoms and will affect retail operations.
15,000 – Jobs Verizon plans to cut in its largest-ever layoffs.
Congress ended the record 43-day government shutdown, allowing federal operations to resume but leaving a backlog of missing economic data and delayed services. The reopening begins a long process of repairing data gaps and restoring benefits.
Markets plunged as AI stock volatility collided with fading odds of a December Fed rate cut, prompting heavy selling across tech and growth names. The move repriced expectations for policy and AI-driven earnings.
Tencent Q3 profit jumps as AI boosts revenue
Tencent posted stronger-than-expected third-quarter results with AI-driven ad and services growth, signaling resilience for Chinese tech and lifting investor sentiment.
More on asia.nikkei.com
Anthropic says state-backed actors used its tools to automate sophisticated hacking attempts against dozens of organizations, exposing an AI-driven espionage threat. The company says it disrupted the campaign but warns of systemic risk.
OpenAI rolled out GPT-5.1 to developers, touting speed and new modes for production use. The update emphasizes improved tone and reliability as companies race to deploy next-gen models.
Ubisoft delays results, halts shares amid sharp YTD losses
Ubisoft postponed publishing its H1 financials and requested a trading halt as the stock plunges; the move raises governance and liquidity concerns for investors.
More on bloomberg.com
Blue Origin successfully launched its New Glenn rocket and achieved a booster landing, marking a milestone for Jeff Bezos’ space push and intensifying competition in heavy-launch services. The mission carried NASA satellites bound for Mars.
Disney is locked in a costly carriage dispute with YouTube TV even as mixed results from TV and film dent revenue. Management warns the fight could continue and the licensing clash is already hitting earnings.
IRS raised retirement contribution limits for 2026 and Apple cut App Store fees for mini apps to 15%; the DOJ sued to block California’s redistricting map and the EU signalled delays and tweaks to the AI Act—regulatory shifts are reshaping tech, finance and trade.
Waymo expanded its driverless service onto Bay Area freeways and into San José, becoming the first operator to offer freeway robotaxi rides. The move marks a major step in scaling autonomous ride-hailing.
Applied Materials is benefiting from surging AI chip investment, forecasting stronger sales and beating quarterly targets. Still, market volatility left the stock under pressure despite solid demand signals for chip-gear suppliers.
Not only is patriotism right, patriotism will make you rich.
— Alex Karp, Palantir CEO
Apple is reshaping its App Store economics by launching a mini apps program and cutting commissions for qualifying developers, an attempt to steer mobile software monetization and bolster platform engagement.
Apple and Major League Soccer agreed to bring every MLS match to Apple TV for no extra charge in 2026, a major content play that reshapes sports streaming economics and distribution.
The White House announced trade framework deals with four Latin American countries aimed at lowering tariffs on foodstuffs to ease consumer prices. The pacts are pitched as a targeted effort to reduce grocery costs ahead of holidays.
The Justice Department filed suit to block California’s newly approved congressional map, escalating a partisan legal battle that could affect House control. The challenge frames the map as incompatible with federal voting protections.
A botulism outbreak tied to infant formula has triggered widespread recalls and legal action, raising immediate safety and supply concerns for parents and regulators. Lawsuits allege the maker knew of problems prior to distribution.
Tesla recalled thousands of Powerwall 2 units after overheating and fire reports, a recall that hit sentiment and dented the stock. The safety action compounds other operational strains at the EV and energy firm.
Unionized Starbucks workers staged strikes at dozens of stores on Red Cup Day, part of an escalating labor campaign for better contracts. The action signals renewed pressure on the coffee chain ahead of the holidays.
European regulators opened fresh probes into Google’s search and news-ranking policies, intensifying antitrust scrutiny of the tech giant across the EU. The investigations could lead to major compliance and product changes.
Crypto markets slid as Bitcoin fell to multi-month lows amid liquidation and long-holder selling, even as major asset managers prepare public listings. The rout underscores persistent liquidity and sentiment risks in digital assets.
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