The global equity downturn intensified as a 12% three-day rout in U.S. chipmakers pushed the Nasdaq 100 into a technical correction, triggering steep losses across Asia led by South Korea's Kospi Index. Plummeting crude oil prices failed to revive broader sentiment as major tech giants, including Microsoft and Meta, tapped bond markets to finance massive artificial intelligence expansions. Although Chinese authorities introduced support mechanisms that lifted the Nasdaq Golden Dragon China Index by 2.3%, analysts warn these measures may merely steady markets after October's severe slump.
Key points
Heavy artificial intelligence infrastructure expenditures are driving corporate tech gian…: Heavy artificial intelligence infrastructure expenditures are driving corporate tech giants to tap debt markets for tens of billions of dollars.
Chinese regulatory interventions helped lift cross-border equity gauges, though analysts…: Chinese regulatory interventions helped lift cross-border equity gauges, though analysts doubt the moves will reverse longer-term regional stock declines.
Market participants are shifting their focus toward upcoming United States labor figures,…: Market participants are shifting their focus toward upcoming United States labor figures, including an October payrolls report projected to show 65,000 new jobs.
Sources checked by our analysis pipeline: 1
The MSCI Asia Pacific gauge dropped 0.4% with South Korea’s Kospi Index sliding almost 3%. In the US, a gauge of chipmakers extended a three-day rout to 12% and the Nasdaq 100 sank 10% from its peak, entering a technical correction. In a sign some investors are looking to buy on dips, US stock futures gained. Japan is closed for a holiday.
In Asia, attention will also turn to Chinese equities after the central bank said it will encourage financial institutions to make greater use of stock-support tools and optimize their terms as authorities seek to bolster market stability.
Read more: Stocks in news: ITC, Marico, SBI, Yatra Online, NSE, Container Corp and Sun Pharma
Apple Inc.’s shares fell in late US trading after the company delivered a mixed outlook to investors in its first quarterly report under Chief Executive Officer John Ternus, with narrower profit margins overshadowing an upbeat sales forecast. Elsewhere, Anthropic PBC disclosed a twelve-fold increase in quarterly revenue while outlining plans to spend more than $895 billion in the coming years.
Strong operational metrics fueled the logistics firm's market momentum following strategic freight rate increases and commercial volume growth. The results highlight effective cost rationalization and operational expansion across its domestic transport footprint. Concurrently, investor sentiment has been bolstered by a recently concluded equity repurchase program priced near peak valuation levels.
A sharp single-day rally of over 7% on November 2 pushed the energy conglomerate onto a technical momentum radar. The surge propelled the stock into a selective screen of eight Nifty 500 companies showing strengthening price action. Market participants track these technical indicators to gauge underlying trend strength and spot early signs of sustained buying pressure.
Regional market sentiment split as technology sector concerns collided with fresh monetary policy tightening across the Pacific. Investors faced headwinds stemming directly from guidance shared by the consumer electronics giant. Meanwhile, elevated borrowing costs introduced by central bankers signaled sustained pressure on broader economic growth.