Market close on October 23: The three major US stock indexes closed mixed, with the Nasdaq posting its largest drop since June, while international oil prices surged.
Most popular Chinese concept stocks declined on October 23, with NetEase falling over 3% and Alibaba dropping 2.48%.
Commodities overview: Oil prices rose while copper and gold prices declined.
European stock markets closed lower, weighed down by disappointing corporate earnings and renewed AI concerns.
Macro
Trump once again threatened military action against Iran, stating: "We have already hit them hard, and it could escalate further."
Putin stated that Russia is willing to resume trilateral talks among Russia, the US, and Ukraine.
Iran's parliament speaker warned: If war breaks out with Iran, the US will bear bitter consequences.
Yemen's government forces claimed 780 strikes against Houthi militants in the past 24 hours.
Trump invoked the Defense Production Act to boost oil production capacity.
The Panama Canal is projected to see a 16.6% revenue increase in fiscal year 2026 compared to the previous year.
Trump made a phone call demanding that Musk lift speed restrictions on Starlink for Ukraine, after which Ukrainian military communications partially recovered.
Canada has strictly limited its diplomats' contact with midterm election candidates in the US to avoid accusations of political interference.
Trump has temporarily refrained from imposing tariffs on wind turbines, allowing 180 days for negotiations.
To guard against an Ebola outbreak, the US CDC issued new rules for air passengers entering and flying into the country.
The International Committee of the Red Cross reported that airstrikes in Sudan over recent weeks have killed hundreds.
Paris has extended curfews in some areas until the morning of the 25th.
The French bond market has come under renewed pressure, with its yield spread over German bunds reaching levels seen during the European debt crisis.
Companies
Western Digital's earnings far exceeded expectations: profit surged 161%, with gross margins approaching 60%, but its stock price has already halved from its peak.
Western Digital's earnings and guidance both beat expectations, yet its stock plunged as much as 8% after hours due to concerns over rising costs and increased capital expenditures.
Moderna and Merck shares slumped amid possible data leaks regarding their melanoma vaccine.
OpenAI is nearing completion of a funding round of up to $30 billion, with a pre-money valuation of $1.25 trillion, led by investors from the UAE.
Report: Musk invested $1 billion in Ellison's Skydance.
Barclays will cut 5,000 jobs, leveraging AI to reduce costs.
American Airlines lowered its full-year earnings forecast, dragged down by soaring fuel costs.
Gucci's third-quarter revenue decline exceeded expectations, adding continued pressure to Kering's recovery.
The US IPO market has fallen into "paralysis," with Anthropic hoped to break the deadlock.
Report: Trump asked Musk to lift Starlink restrictions in Ukraine.
AI spending plans spark concerns as Meta's credit risk indicator hits a new high.
SpaceX is reportedly in talks to lease 80,000 communication towers across the US, aiming to build the fourth-largest national mobile operator in the US.
Rivian acquired AI company Third Dimension to accelerate autonomous driving development using 3D simulation technology, with road testing to begin in December.
The US Treasury proposed new rules to prohibit large institutional investors from continuing to buy single-family homes.
AI spending plans spark concerns as Meta's credit risk indicator hits a new high.
Commentary
ECB Governing Council member Panetta: Rising bond yields will dampen economic growth.
Apple's stock price has diverged significantly from chip stocks, making it an ideal hedge against AI-themed stocks.
ECB Governing Council member Panetta: Rising bond yields will dampen economic growth.
Blackstone president rebutted the AI bubble theory, stating demand is growing "parabolically."
European bond market: The yield premium of French government bonds over German bunds reached 175 basis points.
A rebound does not mean fundamentals have changed; DoubleLine's deputy CIO continues to be bearish on long-term US Treasuries.
US stock market: Tech stock sell-off dragged the Nasdaq 100 sharply lower, with risk aversion looming over Wall Street.
Crude oil: Oil prices rose as an attack on Saudi Arabia heightened Middle East supply concerns.
New York foreign exchange market: The dollar fell as safe-haven demand pushed down US Treasury yields and boosted the yen.
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