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#美国ppi同比升至6.3% U.S. Market Analysis: AI Faith Crumbles, Chip Stocks Fall for Eight Straight Sessions, and Money Is Flowing in These Three Directions

The AI trade is undergoing a sweeping reckoning: the Nasdaq plunged 2%, while chip stocks posted their longest losing streak since 2008. U.S. stocks suffered a broad selloff on Friday, with the Nasdaq down 2.15%, the S&P 500 down 1.1%, and the Philadelphia Semiconductor Index falling more than 3.5% for its eighth straight session of losses. CoreWeave plunged 12%, and yields on its bonds briefly topped 15%, flashing a red warning on credit risk. The market is starting to ask: when growth is built on debt-funded AI capital spending worth trillions, where are the profits?

How macroeconomic news is affecting different asset classes:
Tech stocks/AI supply chain: Memory chips were hit hardest, with Micron down 5.6%, SanDisk down 6.8%, and SK Hynix ADRs down more than 6.5%. The Magnificent Seven fell 1.6% for the day, with Apple the only one to finish higher; preorders for the foldable iPhone Duo sold out instantly, supporting the stock. Goldman Sachs believes the market's reaction in some areas has been excessive: the Nasdaq's forward P/E has fallen to 21, its lowest since the AI cycle began.

Energy: Brent crude rose more than 3% intraday, nearing $110, while WTI extended its winning streak to seven sessions, closing at $101.71. Chevron and Exxon Mobil both hit new record highs. Lawmakers from both parties introduced a bill to block Russian diesel from entering the market. Combined with tensions around the Strait of Hormuz, this has made energy the most direct haven from rising oil prices.

Defensive assets: Coca-Cola rose more than 2% to another record high, while Eli Lilly, Walmart, and Procter & Gamble also gained. The 10-year Treasury yield briefly climbed to 5.125%, before retreating to 5.097% late in the session; longer-dated Treasuries clearly outperformed shorter-dated ones this week. Gold steadied near $4,168, ending almost unchanged.
FX: The U.S. dollar index fell to a more-than-two-week low of 101.58, while the offshore yuan approached 6.6830 intraday, setting a four-year high for the second consecutive day.

When the cost of financing AI starts to bite, the story has to give way to cash flow. Energy and consumer staples are rising as chip stocks fall. This isn't rotation; it's investors voting with their feet and repricing “certainty.” Next week's earnings from tech giants will be the real day of reckoning. $SOXL $CL $XAU #Celestia推出AI智能体测试链Eden #布伦特原油自5月来首次触及110美元 #纳指100本周跌5.5%创18个月最大周跌幅

Alibaba’s Hong Kong-listed shares surged at the open, up nearly 4%;

On the news front, Cook said that Apple Intelligence and the related Alibaba Qwen large language model had indeed received approval, and that a test version would be released later in October. However, this does not include Siri AI.

Tesla rose more than 3% in U.S. after-hours trading, while SpaceX gained about 2.5%;\nIn related news, at today's Roadster launch event, Tesla demonstrated the flying car briefly lifting off and performing an aerial flip. It is equipped with cold-gas thrusters developed in collaboration with SpaceX.$SPCX $TSLA \n\n

Bitcoin briefly rises above $82,000; some crypto-related stocks rally, with Circle up nearly 7%, Strategy and Coinbase up 2%, and Robinhood trimming losses to 1%.$BTC $CRCL $MSTR

U.S. September PPI rose 6.3% year over year, its highest level since May 2026 and above market expectations of 5.3%.

U.S. September PPI rose 1.3% month over month, significantly above market expectations of 0.5%. U.S. September retail sales rose 0.8% month over month, above market expectations.$BTC $ETH $SOXL

South Korea’s KOSPI is now down over 5.5%

SK Hynix is down nearly 8%, and Samsung Electronics is down over 6%; SK Hynix is down nearly 5% in U.S. after-hours trading. The Nikkei 225’s losses have widened to 3%, with SoftBank and Kioxia down over 8%.$KORU $SKHY $SOXL #KOSPI盘中跌6%触发侧车

CPI came in above expectations, CPI came in above expectations, CPI came in above expectations—important things are worth saying three times!

U.S. CPI rose 3.70% year over year in September, versus an expected 3.60% and a previous reading of 3.40%. After the September CPI data was released, traders increased their bets on a Fed rate hike in October; the U.S. Dollar Index rose nearly 40 points; the three major U.S. stock index futures plunged and turned lower, with Nasdaq futures down 0.5%; spot gold fell nearly 1%, and spot silver nearly 2%.

Spot gold slid nearly $40 in the short term and is now at $4,129.6 per ounce. Spot silver fell $1 in the short term and is now at $58.07 per ounce. $BTC $XAU $XAG #9月CPI来袭原油美债走势如何

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#9月cpi来袭原油美债走势如何 U.S. Market Analysis: Tech Giants Stand Alone as AI Credit Cracks Tear Through Markets
Overall Market
All three major U.S. stock indexes weakened in choppy trading on Tuesday: the Dow fell 0.35%, the S&P 500 slipped 0.02%, and the Nasdaq lost 0.15%. Energy led the gains, up 1.74%, while healthcare weighed on the market, falling 1.33%.
How Macroeconomic News Affected Different Asset Classes
Worries over rising AI borrowing costs are spreading from bond markets to equities. Spreads on data-center-related bonds widened sharply. Citigroup data showed that five-year CDS spreads for major tech companies had tripled over the past year, reaching about 75 basis points. Applied Materials fell 6.69%, while Micron Technology and SK Hynix ADRs both dropped more than 3%.
The Magnificent Seven became a haven: Meta gained 2.63%, Nvidia rose 0.97%, Microsoft hit a record high, and Apple closed at a record after unveiling its smart home device, HomeView.
The earnings season for banks got off to a poor start: Citigroup fell more than 5.6% after reporting results, while JPMorgan Chase slipped 0.86% after revenue came in below expectations. The U.S. Treasury yield curve flattened, with the 30-year yield falling to around 5.21%. Oil prices rose, supported by geopolitical risks, while gold pulled back after an early surge.
Summary
The indexes looked calm on the surface, but the market was sharply divided beneath it. The AI trade is shifting from the narrative of “demand for computing power” to the question of “who is still willing to pay.” Tech giants attracted safe-haven flows, but signs of stress in credit markets should not be ignored. Markets are waiting for CPI data to provide direction.

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