Market Pulse - Friday, Oct. 23

Macro theme: AI-spending doubts and Middle East tensions are driving a global risk-off move. Chip stocks are tumbling and Brent is near $114 on Iran strike reports and attacks on Saudi oil sites. Investors are moving into bonds.

Wall Street (Thursday close):

S&P 500: 7,663 (–1.21%)

Nasdaq: 26,009 (–2.60%), its worst day since June

Philadelphia semiconductors: –6.7%

Dow: 52,868 (+0.02%)

VIX: 19.0 (+14%)

US 10-year yield: ~4.97%, after its biggest drop in over two years

Europe (Thursday close):

DAX: 25,372 (–1.07%)

CAC 40: 7,811 (–1.39%)

FTSE 100: 10,725 (–0.26%) 📉

Asian markets (live):

Nikkei 225: 62,442 (–0.74%), after dipping to near-3-month lows

Kospi: 5,482 (–0.93%), chip names under pressure 💥

Shanghai Composite: 3,646 (–0.33%)

Hang Seng: 23,090 (+0.68%), rebounding from 3-month lows

ASX 200: 8,795 (+0.02%)

Markets (live):

Gold: $4,029 (–0.77%), after briefly dipping below $4,000

Silver: $54.13 (–1.61%)

Brent: $114.00 (+0.73%), highest in over five months

WTI: $100.38 (+0.91%)

EUR/USD: 1.1210

USD/JPY: 156.90

Bitcoin: $81,720 (–1.39%)

Ethereum: $2,400 (–1.59%)

Today (GMT+3):

09:00 – UK retail sales (forecast –0.1% m/m)

10:30–11:30 – Flash PMIs: Germany, Eurozone, UK

13:30 – Bank of Russia rate decision (forecast 14.0%)

16:45 – US flash PMIs (composite forecast 57.6)

17:00 – Michigan consumer sentiment (forecast 46.3)

Watch the AI trade and oil headlines – they are setting the tone for everything else.