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Equities fell sharply as AI mega-caps led a rotation out of growth and futures priced out a December Fed rate cut. The Dow slid ~800 points, Nasdaq dropped over 2%, and the S&P 500 lost ground amid rising volatility. Treasuries saw yields tick higher on reduced easing odds; energy and defensives outperformed while chip and AI stocks led declines.
The US government shutdown has ended, but its economic and data fallout will linger. Officials warn delays and gaps in key economic reports will cloud markets and policy decisions for weeks.
43 days – Length of the US government shutdown, the longest in American history.
Risk assets plunged as investors dial back expectations for a Fed rate cut and AI stocks rolled over. The abrupt move hit major averages and stoked volatility across tech-heavy benchmarks.
Anthropic says state-linked Chinese actors used its models to automate cyber intrusions. The disclosures raise fresh questions about AI misuse and vendor risk in national security-sensitive systems.
Citi Is Growing Rapidly in China – CEO Says
Citi reports fast expansion and strong client interest in China, signaling durable Western bank growth amid local demand for financial services.
More on bloomberg.com
A push to restrict advanced AI chip exports is gaining industry support — but not unanimity. Tech heavyweights lobby Washington as lawmakers weigh protectionist measures to curb China’s access to semiconductors.
Australian AI infrastructure firm Firmus raised a huge new round, sharply re-rating its valuation in weeks. The funding underscores intense investor appetite for AI data-center plays globally.
Northland Power Plunges After Shock 40% Dividend Cut
Dividend cut and widening loss send shares tumbling, hammering yield-focused investors and highlighting strain in some renewable operators.
More on theglobeandmail.com
OpenAI pushed GPT-5.1 into the API while regulators and states form safety partnerships. The twin moves highlight rapid model deployment amid rising calls for public oversight and operational guardrails.
China’s slowdown deepened in October as weak consumption and investment aggravated factory weakness. Data showed retail and industrial output softening, fuelling concerns over growth momentum.
EU regulators opened probes into Google’s search and adtech practices; US lawmakers are advancing chip-export and GAIN-AI measures while the FAA keeps a 6% flight-cut cap as staffing recovers.
Property distress keeps surfacing: developers tap convertible bonds while lenders flag loan losses. The sector’s strain is threatening banks and bondholders as stimulus efforts lag.
Blue Origin finally achieved a major milestone with a successful New Glenn flight and booster recovery. The launch shifts the competitive landscape in heavy-lift commercial space.
‘Not only is patriotism right, patriotism will make you rich.’
— Alex Karp, CEO of Palantir
A Ukrainian strike hit a Russian Black Sea oil depot, prompting energy-market ripples. The incident raised supply-risk concerns and pushed crude prices higher.
Senior Fannie Mae officials were removed after they raised alarms about sharing confidential housing data. The shakeup intensifies scrutiny of housing regulators and data governance.
FAA will keep flight reductions capped at 6% even as more controllers return, limiting further disruption. Airlines expect to ramp service back up quickly as staffing stabilizes.
Verizon is preparing its largest-ever layoffs as the carrier restructures under new leadership. The job cuts and store-franchise moves aim to reduce costs amid customer churn.
Lawsuits multiply after a botulism outbreak tied to infant formula; families sue the maker. Regulators and courts face pressure as recalls and civil claims accelerate.
Chipmakers warn of supply imbalances as memory shortages and AI-driven demand collide. Equipment vendors and foundries say the industry must scale capacity fast to avoid shortages in 2026.
European regulators intensified scrutiny of Google, probing search ranking and adtech practices. Brussels is weighing enforcement alongside incoming fixes proposed by the company.
The White House struck trade frameworks with four Latin American nations aimed at lowering consumer costs. Deals focus on tariff relief for food staples and tighten economic ties in the region.
Cryptocurrency markets are under pressure as Bitcoin slides toward $100K and institutional support levels are tested. Analysts debate whether buyers will defend long-term benchmarks amid volatile flows.
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