Tech Rout Pauses With Oil Rise Capping Relief: Markets Wrap
(Bloomberg) — Stocks steadied at the start of the European session, offering global investors some respite after a rout in the artificial intelligence trade, while further gains in oil prices kept sentiment cautious.
Nasdaq 100 futures rose 0.2% after the index suffered its worst day since June. S&P 500 contracts were flat. South Korea’s Kospi closed 0.3% higher after falling as much as 4.1%. A regional gauge for Asian stocks erased a decline of as much as 1.1%. The Stoxx 600 fell 0.2%.
Treasury yields nudged higher after a rush for safety in the previous session drove the 10-year yield down by the most in more than a year. Selling pressure on French bonds eased. Oil continued to complicate the inflation outlook, with Brent crude touching the highest since early May. Gold fell toward to $4,000 an ounce as the metal headed for its worst week since June.
A week of sharp swings across asset classes is giving way to a calmer final session as investors take stock of a tech rout fueled by doubts about the sustainability of heavy spending on the global AI buildout. Corporate bond yield premiums have surged to their widest since May 2025 at a time when the biggest players are committing more capital.
“Equity markets are likely to calm only once US hyperscalers can show that surging AI revenues justify the buildout,” said Wolf von Rotberg at Bank J Safra Sarasin. “The bar has certainly risen, with credit markets showing increasing signs of stress and a decreasing willingness to fund additional capex.”
Corporate News:
Kering SA shares plunged after Gucci sales fell more than expected in the third quarter, as weakness in China set back a years-long turnaround effort. SK Hynix Inc. scrapped plans for a potential $10 billion US listing of its Solidigm unit after facing strong opposition from regulators and shareholders SpaceX aims to secure a minimum of 80,000 cell sites across the US, and it’s in talks with at least one major cellular infrastructure company to reach that goal, according to people familiar with the matter. Volvo Car AB plans to slash another 2,500 jobs as cratering sales in China and tariffs in the US complicate the Swedish automaker’s turnaround. Its shares slumped. Some of the main moves in markets:
Stocks
The Stoxx Europe 600 fell 0.2% as of 8:23 a.m. London time S&P 500 futures were little changed Nasdaq 100 futures rose 0.2% Futures on the Dow Jones Industrial Average fell 0.3% The MSCI Asia Pacific Index was little changed The MSCI Emerging Markets Index was little changed Currencies
The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.2% to $1.1197 The Japanese yen fell 0.2% to 157.02 per dollar The offshore yuan was little changed at 6.6720 per dollar The British pound fell 0.2% to $1.3373 Cryptocurrencies
Bitcoin rose 0.6% to $81,663.48 Ether rose 0.9% to $2,401.59 Bonds
The yield on 10-year Treasuries advanced two basis points to 4.97% Germany’s 10-year yield declined one basis point to 3.32% Britain’s 10-year yield was little changed at 5.32% Commodities
Brent crude rose 1% to $114.31 a barrel Spot gold fell 0.3% to $4,014.36 an ounce This story was produced with the assistance of Bloomberg Automation.
©2026 Bloomberg L.P.
See more Swissinfo articles in your Google results. Learn more
