- The S&P 500 fell 1.1%, ending a 53-session streak without a 1% decline and marking the longest calm since January 2020.
- Consumer prices rose 0.6% in September, the fastest increase since April, intensifying expectations for future Federal Reserve rate increases.
- A semiconductor index fell almost 12% over six days, and concerns over distressed corporate bonds of CoreWeave Inc. weighed on AI-linked stocks.
- S&P Global's Investment Manager Index shows US equity risk appetite improved in October, but investors hold a neutral outlook on overall US equity returns.
- Technology is the most favored sector on AI-related gains, while views on financials and real estate fell on rising bond yields.
Quotes
“more losses could be in store for the benchmark gauge”
“US equity investor risk appetite improved in October”