Overview
- The Nasdaq headed for its worst week since March as investors questioned high AI-linked valuations, with losses spreading across Asia and Europe.
- Challenger, Gray & Christmas reported 153,074 U.S. job-cut announcements in October, the highest for the month in more than two decades, stoking safe-haven demand.
- U.S. Treasury yields fell and the dollar softened earlier in the session while gold hovered around $4,000 an ounce as investors rotated toward defensive assets.
- The Bank of England kept Bank Rate at 4.00% in a 5–4 vote, with four members favoring a 25 bp cut and messaging that strengthens the case for possible easing next month.
- Indian equities fell for a third session as FIIs were net sellers (about Rs 3,263 crore) versus DII buying (about Rs 5,284 crore), pressuring the Sensex and Nifty at the open.