Nasdaq Plunges 2.15% Brent Crude Settles at $109.86

On the 16th, the Nasdaq fell 2.15% to close at 26,140.03 and the Philadelphia Semiconductor Index dropped 3.83%. Nvidia fell 1.43%.

On the 16th, CoreWeave fell 11.91%, Nebius fell 12.18%, and IREN fell 11.19%. Concerns about data center expansion financed by debt were raised.

On the 15th, Microsoft announced it had completed pretraining of MAI-Base-2, its in-house model with 2.8 trillion parameters. It also introduced an Anthropic model into its own services.

Meta optimized its Muse Spark AI model, announced on the 15th, to run on Mac Studio. It runs an 816-billion-parameter model on two Mac Studios equipped with the M5 Ultra.

In court documents filed on the 14th, OpenAI claimed that an employee who returned to Apple moved about 100 confidential files related to AI devices to a personal account. Apple said it had found no evidence to support the claim.

US consumer prices rose 0.6% in September from the previous month, or 3.7% annualized. Producer prices rose 1.3% monthly, the largest increase since March 2022.

IMF Managing Director Georgieva said the Bangkok annual meetings were marked by both optimism and concern. She said debt service burdens for low-income countries rose from 8% to 14% of government revenue.

According to Korea Customs Service data, exports from October 1 to 10 totaled 26.1 billion dollars, up 102.0% from the same period a year earlier. The Bank of Korea's base rate is 3.00%, after increases of 0.25 percentage points each in July and August.

On the 16th, the Nasdaq fell 2.15% to 26,140.03 and the S&P 500 fell 1.09% to 7,659.44. The Nasdaq lost more than 4% for the week, its worst week since June.

On the 16th, the Philadelphia Semiconductor Index fell 3.83%, marking its eighth consecutive daily decline. The losing streak was the longest since 2008, and Micron fell 5.6% and AMD fell 5.9%.

AI infrastructure company CoreWeave fell 12% on the 16th, with total debt above 51 billion dollars, and its weekly decline reached 26%. Concerns were raised about excessive borrowing by technology companies.

On the 16th, Brent crude (December contract) rose 3.7% to settle at $109.86, and WTI rose 3.5% to $101.41. Concerns over supply disruptions, including attacks on ships in the Strait of Hormuz, were mentioned.

KOSPI fell 7.57% on the 15th before rebounding 2.05% on the 16th. It closed at 5668.05 on the rebound day.

Samsung Electronics' third-quarter operating profit was 107.4 trillion won, up 783% from a year earlier and 20% from the previous quarter. The article said this exceeded Nvidia's estimated operating profit of 97 trillion won.

Chinese startup Langdao Silexe unveiled a 15W-class EUV light source prototype at the China International Industry Fair. Tom's Hardware reported that the device did not actually operate.

Alcoa and Travelers announced that their quarterly results beat market expectations. Alcoa shares rose 2.5% and Travelers shares rose 1.5%.

Tesla's shares fell 2.1% on Friday on US markets after it unveiled a new Roadster model. On the same day, Micron fell 5.6% and Intel fell 5.8%.

On the 16th, President Trump signed an executive order waiving major US sanctions and tariffs aimed at Russian energy imports.

Ukrainian President Zelensky criticized Trump's waiver of many Russia-related sanctions, saying 'it seems wrong to me.'

At the OIC foreign ministers' meeting in Baghdad, Iranian Foreign Minister Araghchi supported a political process and repeated his mediation proposal. According to AFP, Riyadh has not yet responded.

On the sidelines of the OIC meeting in Baghdad, Araghchi met Turkish Foreign Minister Hakan Fidan and discussed the Strait of Hormuz and regional tensions.

According to Al Jazeera, Russian strikes on the 16th killed at least 8 people and injured 60 across nine regions of Ukraine. Two shopping centers were hit, and more than 1 million people lost electricity.

Ukraine's Air Force said it shot down 289 of 332 drones launched overnight. Drones and ballistic missiles struck 22 sites, and 7 people were killed within a day.

At the EU summit in Brussels, President Zelensky said Russia does not want peace. He also criticized the Trump-Russia diesel deal and welcomed a larger role for Europe.

The UN human rights monitoring mission said at least 328 civilians have been killed and 2,105 injured in Ukraine since the start of October. Its head said the first two weeks of October were among the deadliest in several years.

Saudi Arabia said it shot down four drones, including one over Riyadh.

Dragon docked with the ISS on October 15. Its cargo of more than 6,300 pounds included the last rollout solar array, equipment for making artificial retinas, and gear for brain organoid experiments.

NASA selected the GIMLI project, led by PSI, to check whether lava tubes extend beneath the pit. Ground-penetrating radar and other instruments on the lander and rover will be used.

Researchers at the University of Costa Rica described an octocoral found at depths of 360 to 529 meters in ZooKeys. Genetic analysis made it the first member of the newly established family Laurinkiidae.

Democratic Party floor leader Kim Min-seok said discussions on impeaching Supreme Court Chief Justice Cho Hee-dae have begun. Some lawmakers responded that the party had crossed an irreversible line after the parliamentary audit.

A fire at a metal printing factory in Bucheon, Gyeonggi Province, injured 8 people. A firefighter taken to hospital in cardiac arrest is in critical condition, and a joint on-site inspection will be held on the 17th.

The identity of a 59-year-old man arrested on suspicion of a knife attack that injured 8 citizens in Incheon has been disclosed. Before his arrest, he rambled and did not clearly state his motive.

A woman in her 50s was found dead in a vehicle in Asan with stab wounds. She had reported her ex-partner for stalking in January and assault in June, but both cases were closed.

The Daejeon District Court's 12th Civil Division ordered Jeong Myung-seok and the JMS religious group to pay 250 million won, 80 million won, and 40 million won, respectively, plus interest, to three victims. The court found the group's organized mobilization of members to be the basis for liability.

The Daegu District Court appellate panel rejected the prosecution's appeal and upheld the first-instance sentence of 2 years and 6 months in prison, suspended for 3 years. Prosecutors had sought 3 years in prison, and 27 people died in the wildfire.

Judge Hellerstein of the US District Court for the Southern District of New York denied a joint request by Gemini and the CFTC to vacate their consent order. The 5 million dollar fine and the order prohibiting false statements remain in place.

The Ninth Circuit Court of Appeals reversed all three class certifications in the California class action over Tesla's FSD advertising. It cited many individual issues regarding what each buyer actually saw, and this is not a ruling on the merits.

Category 1 Hurricane Trudy is moving northwest with maximum winds of 150 km/h. Hurricane warnings have been issued from Mazatlan to Cabo Corrientes, and about 380 mm of rain is forecast for some areas.

Typhoon Champi is moving west at 23 km/h and strengthening, with maximum winds of 160 km/h. Typhoon warnings have been issued for Guam and Rota, and tropical storm warnings for Tinian and Saipan, among others.

Dare County ordered visitors on Hatteras Island to evacuate ahead of the Norris storm. The coastal flood warning is in effect until the 20th, with 2 to 4 feet of flooding and 8 to 14 foot waves forecast.

According to TIME, a UNDP report identified high borrowing costs, soaring energy prices and El Nino-driven extreme weather as a triple shock. It estimated that explicit fuel subsidies could exceed 1 trillion dollars this year.

Kenya's Ministry of Health said three health workers who treated the first fatal patient and one close relative tested positive for Bundibugyo virus disease. Of 130 contacts, 128 have been traced and placed in quarantine.

As of October 15, the CDC recorded 9,235 confirmed Bundibugyo virus disease cases and 4,444 deaths, describing it as the second-largest outbreak on record. There are no related confirmed cases in the United States.

India's Drug Price Control Authority published a gazette notice on October 17 limiting distribution margins for 137 non-scheduled anticancer drugs to 30% of the MRP. The revised prices will apply from November 9.

Novo Nordisk Korea has applied to the Health Insurance Review and Assessment Service for insurance coverage of its obesity drug Wegovy, according to a report citing Yonhap News.

On the 17th alone, the film drew 174,759 viewers for a 47% share to stay at No. 1. Its cumulative audience reached 1,682,636, placing it 12th among films released this year.

The third episode, aired on the 16th, recorded a nationwide household rating of 15.1%, a series high. The Seoul metropolitan area rated 14.9%, and the peak minute rating was 16.9%.

In the final episode on the 16th, vocal group Doremi won with 433 of 500 audience votes. The finale recorded a peak rating of 4.7% and a nationwide rating of 3.3%.

The final episode, aired on the 16th, recorded 1.6% according to Nielsen Korea's paying-household measure. The profit remaining after cost settlement was reported as 128,850 won.

KIA beat LG 5-1 in Game 1 of the semi-playoff in Gwangju to take a 1-0 series lead. Kim Do-yeong hit two home runs, and starter Nail pitched 7 innings with one run allowed to earn the win.

Manchester City beat Ipswich 3-2 at home. Haaland scored twice, and City kept first place with 21 points, six points ahead of second-place Arsenal.

Liverpool came from behind to beat Brentford 2-1 away. Isak, back from injury, scored the winning goal in the 70th minute, and Brentford played the final stretch with nine men after two red cards.

Chelsea beat Everton 2-0 away. Pedro Neto scored in the 1st and 45th minutes, and Chelsea moved up to fourth place.

ConnectWise confirmed unauthorized access to the identity of its Cloud Backup app and suspended service access. Huntress confirmed at least 162 tenant breaches.

The Register reported a hack of refrigeration systems at a French grocery store and a ransomware attack on the building management system of a Canadian hospital. Armis said 73% of organizations have BAS equipment that has been used in attacks.

SafeDep said the npm package imgdecode, part of the MALFEX campaign, concealed a malicious loader inside a compiled Node.js add-on. The package had been downloaded 979 times.

According to Inc42, Indian startups raised about 236.2 million dollars across 25 deals from October 12 to 16. That was up 92.2% from about 122.9 million dollars the previous week, and Accel was the most active investor.

According to Axios, power infrastructure company Base Electron has confidentially submitted documents for a US IPO. The offering size has not been disclosed.

On the 16th, Brent rose 3.7% to settle at $109.86, its highest since May 19, while WTI rose to $101.41, up 10.4% for the week. Missile interception near Saudi Arabia's Yanbu port and a halt at a Russian refinery were mentioned.

The UK Maritime Trade Operations said on the 17th that a tanker was hit by an RPG fired from a small boat 78 nautical miles northeast of Saudi Arabia's Al Juwaymah. Part of the stern was damaged, but all crew members were reported safe.

Samsung SDI plans to mass-produce all-solid-state batteries in Ulsan in the second half of 2027 and is supplying samples to BMW. Toyota is reportedly targeting 2027-2028 and CATL 2030.

Netflix announced on October 16 (US time) that chief content officer Bela Bajaria is leaving and will be succeeded by Peter Rice. The announcement came two days after the roughly 1,000-person layoff was disclosed.

TikTok suspended the entire account of the documentary Musk, directed by Alex Gibney, citing violations of its political content policy. Distributor Blinker Street was notified of the permanent suspension on Friday afternoon.