Overview
- On Tuesday, Nov. 3, the Nasdaq-100 fell more than 10% from its peak, confirming a technical correction as investors punished growth stocks tied to AI spending.
- Major tech results failed to reassure markets with Intel and Amazon disappointing and Apple warning of narrower holiday-quarter margins because of rising memory‑chip costs.
- Big technology firms have returned to bond markets to raise cash for large AI capital programs, raising concern that debt‑funded spending will be harder to justify as borrowing costs stay high.
- Asian markets focused the pain in chip supply chains with South Korea’s KOSPI off sharply and Samsung and SK hynix down about 3–4 percent, hitting suppliers and local investors.
- Oil swung wildly on mixed U.S.‑Iran diplomatic signals and reports of U.S. strikes, and investors are now watching midterm returns and upcoming U.S. jobs data for clues on rates, fiscal policy and the next market direction.