The Stoxx 600 fell more than 1% to 637.74 points, its steepest decline in three weeks, as the eurozone banking index dropped 4.2%, its weakest day since March. Spain's Bankinter fell 7.6% after higher rates raised deposit costs and pressured third-quarter margins, while Barclays fell 2.3% on a smaller-than-expected third-quarter profit and is cutting around 5,000 jobs, or 5% of its workforce, in 2026. Brent crude futures hit a five-month high amid the Middle East conflict, and the yield spread between France's 10-year bond and German Bunds reached a 15-year high. Healthcare rose 2.1%, with UCB up 21.6% after raising its 2026 revenue growth forecast, but the tech index fell 2%, with Infineon, STMicroelectronics and ASML down 5% to 6% amid concerns over the returns from massive AI spending.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on businesstimes.com.sg ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/22/2026 | 704.47 |
| Change that session | -2.86% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/22/2026 | 763.96 |
| Change that session | -1.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- This signal from the corporate bond market has historically preceded big drawdowns for the S&P 500
- Why Palantir stock doesn't deserve to be caught up in the AI stock meltdown
Palantir (PLTR) shares fell about 6% in premarket trading on Tuesday, though analysts largely defended the stock after a third-quarter report that beat expectations. Revenue growth accelerated to 96% from 93% last quarter, US commercial sales rose 148% year over year, and commercial revenue surpassed government revenue for the first time. Palantir raised full-year adjusted operating profit guidance by $354 million to $5.247 billion and free cash flow guidance by $300 million to $4.9 billion. D.A. Davidson's Gil Luria called Palantir the best story in software, while Yorkville Ives' Dan Ives said 2027 is the inflection year for AI monetization and that Palantir remains his top pick in software.
- US Stock Futures Trade Mixed Premarket As AAPL Margin Concerns Weigh On Tech — PLTR, AMD, AEHR In Focus
U.S. stock index futures traded mixed before the open as investors weighed Apple's (AAPL) earnings ahead of the midterm elections. Apple fell 4.5% after indicating its gross margin would remain under pressure from surging memory chip prices, even though overall revenue and iPhone sales topped expectations. Palantir (PLTR) dropped more than 5% despite adjusted earnings of $0.44 per share beating the $0.41 consensus, while Aehr Test Systems (AEHR) jumped 15.5% after posting record revenue of $33 million, up 200% from a year earlier. Oracle (ORCL) rose 0.4% after announcing plans to raise $20 billion through equity and bond offerings, and Brent crude gained more than 1.3% to $106.13 a barrel after reports of a U.S. strike on Iran's Qeshm Island.
- German yields hover near August lows on tech rout
The German 10-year Bund yield was at 3.29%, its lowest level since August, as investors moved into core sovereign debt amid a global tech stock selloff and caution ahead of the U.S. midterm elections. The two-year Bund yield stood at 3.03%. The pressure followed Apple's warning that rising memory chip prices would squeeze margins through the holiday quarter. According to Reuters, major U.S. tech firms such as Alphabet and Oracle are increasingly tapping European investors to fund AI infrastructure, with Alphabet launching its second euro bond sale of the year and Oracle planning to raise $20 billion through bonds and shares. Strategists warn the surge in supply could crowd out European issuers and push borrowing costs higher.
- Fed Chair Kevin Warsh Just Drove a Dagger Through Wall Street's AI-Driven Rally With 6 Blunt Words
Fed Chair Kevin Warsh said interest rates affect almost everything, AI stocks included, after the Fed held rates steady on Oct. 28 amid inflation above its 2% target for 67 consecutive months. According to the CME Group's FedWatch Tool, markets put a 72% chance on a 25-basis-point hike in December. Large cloud providers are partly financing their AI data center build-outs with debt, so higher borrowing costs could slow expansion and force a re-rating of what the article calls the second-priciest stock market in history. With U.S. debt at $40.1 trillion, each percentage point in average borrowing costs equals roughly $401 billion in annual interest, and the article warns that rising long-term Treasury yields could pose a major risk to AI stocks.
- FTSE 100 falls amid global tech rout, looming U.S. mid-terms and BoE
The FTSE 100 fell 0.4% on Tuesday, snapping a four-session winning streak, as Associated British Foods (ABF) shares dropped 3%. ABF reported adjusted operating profit of £1.508 billion for the fiscal year ended September 12, 2026, down 14% year on year, hit by weak consumer spending at Primark and a sharp slump in European sugar prices. Broader sentiment was also weighed by Apple's warning that memory chip costs would compress gross margins and Oracle's plan to raise $20 billion for AI and cloud infrastructure. Investors also remained cautious ahead of U.S. midterm elections, with all 435 House seats and 35 Senate seats contested, and the Bank of England's rate decision later this week.
Related markets
Latest news
- A place where gold can be bought nearly 20 million dong cheaper: lessons from China's “open-door laboratory”
Hainan customs supervised 855 million yuan (about $128 million) in offshore duty-free purchases from October 1 to 7, covering 123,000 shopper visits and 696,800 items. Buyers of the same gold jewelry could pay up to 5,000 yuan less than on the mainland, about 19 million dong, because of the island's duty-free policy. The Hainan Free Trade Port has operated as a fully closed island since late 2025 under a “loose first line, tight second line” model, raising the share of goods with zero tariffs from 21% to 74% across more than 6,600 tariff lines. According to Dr. Nguyen Thai Chuyen, the island was chosen as an open-door laboratory for its sea-bounded geography, small economy and ASEAN orientation, with Hainan–ASEAN trade reaching 57.91 billion yuan (about $8.7 billion) in 2024.
- Thousands of Disney job cuts may be coming. Investors are asking what comes next.
Reports say Walt Disney is poised to lay off thousands of workers. The news, however, did not move its languishing stock on Tuesday.
- Could Investing in Moderna's Stock Double Your Money?
Moderna (MRNA) shares have risen more than 650% this year on enthusiasm for its cancer vaccine intismeran, which is not yet approved. Clinical trial results combining intismeran with Merck's Keytruda have been highly effective in reducing the risk of death or recurrence in melanoma patients, and Merck and Moderna are evaluating it for other cancers, including non-small cell lung cancer. Still, as of the end of last week the stock was down around 36% over five years. The article says the stock would need a valuation of around $180 billion to double, and that it may not be appropriate for investors with a low risk tolerance.
- The Next Generation of Dividend Kings: 3 Stocks to Watch
Dividend Kings are companies that have raised dividends for at least 50 consecutive years, and this article profiles three energy stocks approaching that milestone: ExxonMobil, Atmos Energy and Chevron. ExxonMobil announced its 44th consecutive dividend hike, to $4.28 per share quarterly (about 2.3% yield), after generating $19.1 billion in free cash flow in Q3 2026 and paying $4.3 billion in dividends. Atmos Energy, a natural gas utility serving over 3.3 million customers in the southern U.S., has paid and raised its dividend for 42 consecutive years, with the dividend consuming just under half of estimated 2026 earnings. Chevron raised its dividend for the 39th year in a row and offers the highest yield of the three at just over 3%, after generating $14.2 billion in adjusted free cash flow in Q3 2026. The article notes ExxonMobil's break-even price for Brent crude is about $35 per barrel, versus oil above $110, and expects Atmos's earnings to grow about 7% annually over the next three to five years.
- Google Parent Alphabet Just Hit a Major Milestone, and It Has Nothing to Do With Its $482 Billion Single-Session Loss
Alphabet shares fell nearly 13% in the October 29 session, losing more than $41 per share and about $482 billion in market value, the second-largest single-day loss on Wall Street after Nvidia's $593 billion drop last year. The sell-off reflects heavy spending on AI infrastructure, which pushed free cash flow to negative $9.1 billion in the September quarter. Google Search and other revenue rose 12% to about $63.4 billion but missed analyst expectations for a second straight quarter. Search made up less than 50% of Alphabet's $127.6 billion in quarterly net sales for the first time in its history, while Google Cloud revenue surged 103% to an annual run rate of nearly $123 billion.
- The Company Behind the New York Stock Exchange Is Now Building on Hyperliquid. Here's What It Means for Investors.
Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, announced it will launch a regulated U.S. perpetual futures market built on Hyperliquid's blockchain and developed by TradeXYZ, in which ICE will take a minority stake. No launch dates have been set, and regulators must still approve the deal. In the 30 days ended October 30, about $217.2 billion in perpetuals traded on Hyperliquid, generating $64.1 million in revenue. TradeXYZ holds 97% of the $4.1 billion in open interest across Hyperliquid's third-party markets, and almost all of the platform's fees go toward open-market HYPE purchases. Payward, the parent of the Kraken exchange, also plans to offer U.S. clients perps through Bitnomial, a CFTC-regulated exchange.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.