Lead Story
Asia tech rout deepens as AI financing fears spark fourth day of losses
Asian markets extended their slide on October 15 as worries about the cost of financing the AI buildout — sharpened by distress in CoreWeave's debt and hotter-than-expected US inflation data reviving fears of further Fed tightening — triggered a fourth straight day of declines. South Korea's Kospi plunged more than 8% at one point and is now down almost 40% from its June peak, while Japan's Nikkei 225 fell 5.4%. Samsung Electronics dropped nearly 10%, memory makers SK Hynix and Kioxia both fell more than 11%, and chip-testing equipment maker Advantest slid almost 14%. Analysts described the move as a repricing of the cost of capital behind AI infrastructure spending rather than a collapse in underlying AI demand.
Read more →Lead Story
Asia tech rout deepens as AI financing fears spark fourth day of losses
Asian markets extended their slide on October 15 as worries about the cost of financing the AI buildout — sharpened by distress in CoreWeave's debt and hotter-than-expected US inflation data reviving fears of further Fed tightening — triggered a fourth straight day of declines. South Korea's Kospi plunged more than 8% at one point and is now down almost 40% from its June peak, while Japan's Nikkei 225 fell 5.4%. Samsung Electronics dropped nearly 10%, memory makers SK Hynix and Kioxia both fell more than 11%, and chip-testing equipment maker Advantest slid almost 14%. Analysts described the move as a repricing of the cost of capital behind AI infrastructure spending rather than a collapse in underlying AI demand.
Pope Leo's recovery from lung cancer surgery called 'normal' by Vatican, but Peru trip in doubt
Vatican News reported on October 15 that Pope Leo XIV's post-operative recovery is 'progressing normally' two days after surgeons removed the lower lobe of his right lung to treat an early-stage lung adenocarcinoma. The 71-year-old pontiff has resumed a regular diet, including full breakfast and lunch, has begun walking around his hospital room, and is undergoing respiratory physiotherapy; blood tests and a chest X-ray confirmed a normal post-operative course. Doctors have said discussion of chemotherapy remains on hold pending further tests. However, Peru's government said the pope's recovery could take 'longer than expected,' raising doubts about whether his planned November 6-17 trip to Uruguay, Argentina and Peru will go ahead as scheduled.
Read more →Pope Leo's recovery from lung cancer surgery called 'normal' by Vatican, but Peru trip in doubt
Vatican News reported on October 15 that Pope Leo XIV's post-operative recovery is 'progressing normally' two days after surgeons removed the lower lobe of his right lung to treat an early-stage lung adenocarcinoma. The 71-year-old pontiff has resumed a regular diet, including full breakfast and lunch, has begun walking around his hospital room, and is undergoing respiratory physiotherapy; blood tests and a chest X-ray confirmed a normal post-operative course. Doctors have said discussion of chemotherapy remains on hold pending further tests. However, Peru's government said the pope's recovery could take 'longer than expected,' raising doubts about whether his planned November 6-17 trip to Uruguay, Argentina and Peru will go ahead as scheduled.
Maduro pleads not guilty to new US torture charges in New York federal court
Venezuela's Nicolas Maduro and his wife, Cilia Flores, appeared before a federal judge in New York on October 15 to plead not guilty to a new indictment adding conspiracy-to-commit-torture charges to their existing US case. Maduro reportedly rejected the document in court, so Judge Alvin Hellerstein entered the not-guilty plea on his behalf. Prosecutors allege Maduro directed officials to torture opposition politicians and military personnel accused of plotting against him, citing methods including electric shock, asphyxiation, forced nudity and prolonged isolation. The new charges come on top of earlier narco-terrorism, drug-trafficking and weapons allegations; both defendants' lawyers are seeking dismissal on sovereign-immunity grounds, and a trial has been set for June 14, 2027.
Read more →Maduro pleads not guilty to new US torture charges in New York federal court
Venezuela's Nicolas Maduro and his wife, Cilia Flores, appeared before a federal judge in New York on October 15 to plead not guilty to a new indictment adding conspiracy-to-commit-torture charges to their existing US case. Maduro reportedly rejected the document in court, so Judge Alvin Hellerstein entered the not-guilty plea on his behalf. Prosecutors allege Maduro directed officials to torture opposition politicians and military personnel accused of plotting against him, citing methods including electric shock, asphyxiation, forced nudity and prolonged isolation. The new charges come on top of earlier narco-terrorism, drug-trafficking and weapons allegations; both defendants' lawyers are seeking dismissal on sovereign-immunity grounds, and a trial has been set for June 14, 2027.
Houthis strike Aramco's Dhahran headquarters as Saudi-Yemen conflict escalates
Saudi officials said an administrative building at Aramco's Dhahran headquarters was struck and set alight on October 13-14, with no injuries reported, after the Houthis vowed to keep targeting 'Saudi enemy airports and oil facilities' following a Saudi-led coalition strike on an oil site in Sanaa. The group also claimed a surface-to-air missile hit a Saudi fighter jet over Saada. Saudi-led coalition forces intercepted ballistic missiles aimed at Riyadh, though falling debris injured four people and damaged 15 homes, and a strike on Riyadh's international airport was described as the deadliest in years. Riyadh has responded with further strikes on Houthi positions in Sanaa, deepening a front that has widened out from the broader Iran-US war.
Read more →Houthis strike Aramco's Dhahran headquarters as Saudi-Yemen conflict escalates
Saudi officials said an administrative building at Aramco's Dhahran headquarters was struck and set alight on October 13-14, with no injuries reported, after the Houthis vowed to keep targeting 'Saudi enemy airports and oil facilities' following a Saudi-led coalition strike on an oil site in Sanaa. The group also claimed a surface-to-air missile hit a Saudi fighter jet over Saada. Saudi-led coalition forces intercepted ballistic missiles aimed at Riyadh, though falling debris injured four people and damaged 15 homes, and a strike on Riyadh's international airport was described as the deadliest in years. Riyadh has responded with further strikes on Houthi positions in Sanaa, deepening a front that has widened out from the broader Iran-US war.
US inflation hits 3.7% ahead of Fed's October rate call, as market leans toward a hold
September's consumer price index showed annual US inflation accelerating to 3.7%, up from 3.4% in August, while core CPI came in at 2.6% and annual producer prices hit 6.3%, complicating the Federal Reserve's policy decision due October 28. The central bank's benchmark rate currently sits at 3.75%-4% after a unanimous 12-0 vote to raise it a quarter point in September. Markets were pricing roughly a 73% chance the Fed holds rates steady at the next meeting, though Chair Kevin Warsh has declined to signal the decision in advance, saying the Fed will no longer preview its moves. Fed officials in September projected inflation would not return to the 2% target until 2029.
Read more →US inflation hits 3.7% ahead of Fed's October rate call, as market leans toward a hold
September's consumer price index showed annual US inflation accelerating to 3.7%, up from 3.4% in August, while core CPI came in at 2.6% and annual producer prices hit 6.3%, complicating the Federal Reserve's policy decision due October 28. The central bank's benchmark rate currently sits at 3.75%-4% after a unanimous 12-0 vote to raise it a quarter point in September. Markets were pricing roughly a 73% chance the Fed holds rates steady at the next meeting, though Chair Kevin Warsh has declined to signal the decision in advance, saying the Fed will no longer preview its moves. Fed officials in September projected inflation would not return to the 2% target until 2029.