Stock Losses Deepen, UK GDP Up 0.1% in August, More
Summary
A global AI sell-off accelerated as South Korean stocks plunged 8% and US semiconductor shares erased $1.6 trillion, driven by high inflation and concerns over CoreWeave’s debt-fueled expansion. Meanwhile, Anthropic reported $16.8 billion in Q3 revenue ahead of its IPO, with NVIDIA’s CEO praising the sector’s profitability. In other news, Ukraine’s President Zelensky vowed to resume strikes on Russian refineries after accusing the US of restricting Starlink access, while the EU considered further trade curbs on Chinese vehicles. The UK economy unexpectedly grew in August, and Chancellor Joh…
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Intro: Global AI sell-off and Korean market halt
Analysis: AI supply chain stocks and technical damage
Context: US inflation, Fed rates, and $1.6T loss
CoreWeave debt concerns and analyst criticism
Anthropic revenue, profitability, and IPO plans
Jensen Huang on AI profitability and Anthropic IPO
Zelensky on Russian strikes and Starlink restrictions
EU trade curbs on Chinese vehicles and industry
UK GDP growth in August and upcoming budget
UK Chancellor's fiscal strategy and market expectations
Market wrap: Indices, Treasuries, and Oil prices
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