The US stock market ended Thursday’s session with a deep reassessment of risks in the technology sector. By the end of the day, the Dow Jones Index (US30) rose by 0.10%. The S&P 500 Index (US500) declined by 0.47%. The Tech‑heavy Nasdaq Index (US100) closed in the red at 1.25% yesterday. The trigger for the sell‑off was a Financial Times publication revealing OpenAI’s financial documents. According to the report, the company’s annual revenue amounted to $50 billion instead of the previously discussed $70 billion. This discrepancy once again intensified investor doubts about the profitability of the enormous capital expenditures (CapEx) in artificial intelligence infrastructure, which in 2026 served as the main driver of growth for the US stock market and US GDP.
Semiconductor manufacturers and computing‑power suppliers took the main hit: Nvidia shares fell by 2.9%, Broadcom by 4.6%, Micron by 4.8%, and Oracle plunged by 5.8%.
The rise in Mexico’s headline inflation to 3.45% year‑over‑year underscores the reversal of Volatile Index components under the influence of global and local factors. The main impulse behind the acceleration of the headline figure came from the energy sector (where price growth jumped to 1.48% from 0.81%) amid the global rally in oil and gas prices. The approach of core inflation toward the Bank of Mexico’s target (3% ± 1 percentage point) continues, yet the overall dynamics are drifting outside the regulator’s comfort zone.
On Thursday, European stock indices showed declines. By the end of the day, Germany’s DAX (DE40) fell by 1.18%, France’s CAC 40 (FR40) closed down by 0.51%, Spain’s IBEX 35 (ES35) dropped by 0.99%, and the UK’s FTSE 100 (UK100) finished the session lower by 0.16%. The drop of Germany’s DAX 40 below the psychological mark of 24,900 to the lowest levels since late July reflects rising stagflation risks in the Eurozone’s largest economy. Three main factors are shaping pressure on the German stock market: another surge in oil prices due to escalating geopolitical tensions around Iran, a synchronized sell‑off in sovereign bonds pushing yields to multi‑week highs, and hawkish signals from the US Federal Reserve keeping global credit conditions tight. The publication of Germany’s August foreign trade report, which recorded a 0.8% m/m decline in exports, further confirmed the vulnerability of the country’s reliance on external demand.
The Swiss franc (CHF) weakened to 0.8300 per US dollar, reaching a weekly low amid renewed pressure from short positions and widening interest‑rate differentials. Unlike major global regulators maintaining a hawkish stance to suppress inflation, the Swiss National Bank (SNB) kept its key rate at zero (0%) at the September meeting. SNB Vice Chairman Antoine Martin emphasized that the current monetary configuration does not require changes under conditions of low and stable inflation and steady national economic growth.
Thursday’s volatile trading session pushed oil prices toward $91 per barrel (with Brent spiking above $103-104), as the market faced a dual supply shock – geopolitical escalation in the Middle East and a natural disruption in the US. The intensification of Iranian attacks on tanker fleets in the Strait of Hormuz (nine incidents in the past week) reduced the region’s export flow to 9.5 million barrels per day – about 30% below normal levels. Simultaneously, Hurricane “Isaiah,” approaching the US coastline, forced oil companies to halt around 500,000 barrels per day of production (roughly 25% of offshore output in the Gulf of Mexico), further tightening available supply on the global market.
In Asia on Thursday, Japan’s Nikkei 225 (JP225) fell by 1.42%, China’s FTSE China 50 closed lower by 1.12% after a three‑day holiday pause, Hong Kong’s Hang Seng (HK50) declined by 1.43%, and Australia’s ASX 200 (AU200) closed lower yesterday by 0.44%.
A slight strengthening of the Australian dollar (AUD) toward $0.7000 is supported by the global pause in the rally of US Treasury yields. The pullback in Treasury yields from 24‑year highs eased pressure on commodity and resource‑linked currencies, allowing AUD/USD to finish its first positive week out of the last five. However, further upside potential remains constrained by market uncertainty surrounding the monetary trajectory of the Reserve Bank of Australia (RBA).
The strengthening of the offshore yuan (CNY) to 6.69 per US dollar shifts global market focus to the currency confrontation between Beijing and Brussels. Growing irritation in the EU is driven by the bloc’s record trade deficit with China, exceeding €1 billion ($1.12 billion) per day, which the European Commission attributes to an undervalued yuan that provides artificial advantages to Chinese manufacturers. The position of the People’s Bank of China remains unwavering: the regulator rejects accusations of currency manipulation, explaining the structural trade surplus by high rates of technological modernization and industrial competitiveness of China, rather than monetary stimulus.
S&P 500 (US500) 7,765.36 -36.41 (-0.47%)
Dow Jones (US30) 51,231.64 +51.77 (+0.10%)
DAX (DE40) 24,806.97 -297.39 (-1.18%)
FTSE 100 (UK100) 10,441.60 -16.90 (-0.16%)
USD Index 102.08 -0.16 (-0.16%)
News feed for: 2026.10.09
Norway Inflation Rate (m/m) at 09:00 (GMT+3) – NOK (MED)
Canada Unemployment Rate (m/m) at 15:30 (GMT+3) – CAD (HIGH)
US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3) – USD (MED)
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