Wall Street edges down, Kospi tumbles on October 14, 2026

QUICK SUMMARY

1. US STOCKS SLIP AS CHIP SELLOFF WEIGHS
Event: On Oct 13, the Dow Jones fell 0.35% to 51,670.10; the S&P 500 fell 0.02% to 7,805.45; the Nasdaq Composite fell 0.15% to 27,204.38. Semiconductor equipment, materials and memory stocks declined; Applied Materials lost more than 6%, Micron and SK Hynix dropped more than 3%, while Microsoft closed at a record high.
Context/impact: Selling pressure stemmed from AI-valuation concerns after reports that China's CXMT made progress in memory-chip density technology; solid U.S. bank earnings helped limit losses.

2. US BANK EARNINGS RISE; JPMORGAN MISSES
Event: JPMorgan Chase missed analyst estimates but joined Citigroup and Wells Fargo in reporting year-over-year profit growth. CFO Jeremy Barnum described U.S. consumer spending as 'sort of robust' and consumer credit as 'quite resilient.'
Context/impact: The three banks set a fresh third-quarter record for lending income; the consumer comments supported sentiment despite inflationary trends.

3. FED OFFICIALS STILL SEE MORE HIKES
Event: New York Fed President John Williams said he still sees one more rate hike this year as appropriate, but not another in 2027. Cleveland Fed President Beth Hammack said rates need to rise further to bring inflation back to 2%, warning of early signals of entrenched inflation expectations.
Context/impact: Governor Christopher Waller said the surge in long-term Treasury yields is doing some work of tighter policy; CME FedWatch showed only a 19% chance of an October hike but an 88% chance in December.

4. TREASURY YIELDS DECLINE ACROSS CURVE
Event: On Oct 13, Treasury yields fell: the 2-year -1.27bp to 4.791%; 5-year -2.16bp to 5.005%; 10-year -3.16bp to 5.213%; 30-year -3.42bp to 5.561%.
Context/impact: Safe-haven demand from the global tech selloff and a pullback in oil prices supported bonds; Williams' comments about no 2027 hike added to the yield decline.

5. KOSPI TUMBLES; ASIAN MARKETS DIVERGE
Event: South Korea's Kospi tumbled 5.46% to 6,035.35, with Samsung Electronics down about 7% and SK Hynix down about 10%, briefly triggering a circuit breaker. Japan's Nikkei 225 lost 1.8% and Kioxia fell more than 13%.
Context/impact: The drop followed reports that China's CXMT made progress on memory-chip density technology. Greater China outperformed: Hang Seng rose 74 points and the Shanghai Composite added 0.1%; Australia's ASX 200 gained 0.4%, helped by healthcare, utilities and real estate.

6. EUROPE SLIPS; IMF LIFTS GLOBAL FORECAST
Event: Germany DAX fell 0.07% to 25,259.90; France CAC 40 fell 0.07% to 7,827.63; UK FTSE 100 fell 0.06% to 10,650.33. The IMF on Oct 13 raised its 2026 world growth forecast to 3.1%, up 0.1 percentage point from July, and projected 3.4% for 2027.
Context/impact: Elevated oil prices, high Treasury yields and French deficit concerns kept investors cautious. The IMF said the AI investment boom is boosting some economies and offsetting the Middle East conflict drag, but warned of AI-related correction risk in its Global Financial Stability Report.

7. OIL PAUSES; GOLD AND SILVER EDGE LOWER
Event: WTI November settled up 0.4% to $94.14/bbl; Brent December fell 0.9% to $105.69/bbl. Spot gold fell 0.3% to $4,157.90/oz; COMEX silver futures fell 1.85% to $59.40/oz.
Context/impact: Traders took profits after three days of gains, though Middle East and Russia supply threats persisted. Saudi Arabia intercepted more Houthi missiles/drones; attacks on vessels near the Strait of Hormuz increased, according to some sources. A Trump-brokered Russia diesel/energy cease-fire deal drew market skepticism and has not been officially confirmed.

What to watch today: US September CPI due Oct 14; consensus headline +0.6% m/m and +3.6% y/y; core +0.2% m/m.

*Thông tin tổng hợp mang tính tham khảo, phản ánh nhiều nguồn khác nhau tại thời điểm đăng tải.*