All three major U.S. stock indexes fell across the board last Friday. Large-cap tech stocks were hit hard amid concerns over AI capital spending and earnings guidance, triggering a flight to safety into U.S. Treasuries. At the same time, markets weighed month-end position adjustments and the prospect of the Federal Reserve keeping interest rates high. The Dow fell 1.09%, the S&P 500 dropped 1.82%, the Nasdaq slid 2.86%, and the Philadelphia Semiconductor Index plunged 7.2%.

Geopolitical tensions in the Middle East remain elevated. After a tanker was attacked by an explosive-laden surface vessel in the Strait of Hormuz, concerns over oil supply disruptions and an escalation of tensions in the region surged. International oil prices remained volatile but firm!

A sharp rise in crude oil prices has once again stoked inflation concerns, reinforcing market expectations that the Federal Reserve and other major central banks will keep rates “higher for longer.” Meanwhile, a liquidity shock from investors cashing out amid a global tech-stock rout sent spot gold tumbling by more than $140. It fell below the $3,900 mark, closing down 3.63% at $3,875.55 per ounce—its lowest level in a year and its worst October performance since 2008!#美股超话