Semiconductors fell 3.79 percent and silver futures fell 3.30 percent in the latest session, while crude rose more than 2 percent on renewed Hormuz strikes and gold miners rose 2.67 percent against a falling metal price.
Semiconductors fell 3.79 percent, the tech sector fell 2.95 percent and Microsoft fell 2.83 percent, extending the AI trade selloff that put the Nasdaq 100 into correction last week. Today’s reporting ties the same move to base metals, where copper and tin fell as the AI unwind spread beyond equities (see today’s copper and tin story).
Silver futures fell 3.30 percent to 49.04 dollars an ounce and gold futures fell 1.38 percent, yet gold miners rose 2.67 percent and silver miners rose 1.50 percent. The divergence runs through today’s mining reporting, which noted miners rising on Monday even as the metals they produce settled lower, and through the World Gold Council figures showing central banks bought 321 tonnes in the third quarter, the fastest pace since 2024 (see today’s central bank gold buying story).
WTI crude rose 2.11 percent to 98.50 dollars a barrel and Brent rose 1.65 percent to 106.50 dollars. The bid followed a night of renewed strikes around the Strait of Hormuz, including confirmed United States strikes on Qeshm Island, and Aramco results that showed record refining margins capturing the war premium (see today’s Qeshm strikes story and today’s Aramco story).
Uranium miners fell 2.37 percent. No clear single driver appears in this morning’s reporting.
Amazon rose 2.20 percent, against the technology tape. Amazon features in today’s hyperscalers financing story as part of the group raising more than 131 billion dollars for the AI buildout, but no Amazon specific news in this morning’s reporting explains the rise.
The cross-market read is not a single risk move. Technology is de-rating, energy is pricing supply risk higher, and the miners are trading on positioning and central bank demand rather than on the spot metals. Two scheduled events dominate the day ahead: the Federal Reserve decision at 2:00 PM Eastern, where a hold is widely expected, and the United States midterm results tonight (see today’s FOMC preview and today’s midterms story).
Copper fell 1.2 percent to 14,180 dollars a tonne and tin fell 2.2 percent to 48,550 dollars a tonne on Tuesday as a renewed selloff in Asian technology stocks weakened the demand outlook for data centre and circuit board metals.
The world's biggest miners have lost 712 billion dollars in market value since the start of the Iran war, Canada's 2025 field crop production rose 11 percent to 109.3 million tonnes, and Dutch potato and onion harvests came in well below last year's records.
China's soybean oil inventories surged to a record as elevated crushing rates boosted supply while edible oil consumption stayed sluggish, Bloomberg reported on Tuesday.
Central banks bought a net 321 tonnes of gold in the third quarter of 2026, up 42 percent from a year earlier and the largest quarterly total since the end of 2024, the World Gold Council said on Tuesday.
Orders for alternative fuelled vessels are running 57 percent ahead of last year, with 364 ships ordered so far in 2026 and LNG accounting for 230 of them, classification society DNV said.
The world's 50 most valuable mining companies have lost $712 billion, or 26 percent, from their $2.75 trillion record at the end of February, with $490 billion of that gone in September and October alone.
West Red Lake Gold has signed a binding term sheet with Gunvor USA for a credit facility of up to $95 million to refinance its Nebari debt at a lower margin, a week after cutting Madsen's 2026 production guidance by about a quarter to 27,000 to 32,000 ounces.
Nouveau Monde Graphite has obtained mining lease No. 1057 from Quebec's Ministry of Natural Resources and Forests for its Matawinie graphite mine, the right to mine a deposit planned at up to 106,000 tonnes a year.
MMG and Anglo American have extended the long-stop date for MMG's acquisition of Anglo's Brazilian nickel business to December 31 from October 31, with the European Commission's Phase II merger review, due by December 21, now the only condition left.
St Barbara restarts ore processing at Touquoy in Nova Scotia today under provincial approval, Merafe's ferrochrome output reaches 61,000 tonnes year to date, and Mozambique approves a 20 year extension for Kenmare's operations.
Major Drilling has acquired Western Australia's Bunbury Drilling Company for A$50 million upfront plus up to A$20 million in earn-outs, buying a mine dewatering business that generated about A$43 million of revenue and A$15 million of adjusted EBITDA in the year to June 30.
AMETEK reported record third quarter sales of 2.22 billion dollars, up 17 percent, with adjusted earnings of 2.21 dollars per diluted share, and raised its full year earnings guidance.
Scatec has signed $217 million of non recourse loans from the EBRD, the African Development Bank and the European Investment Bank for the first phase of its Dandara solar and storage project in Egypt, and construction has started.
Sunergise has agreed to acquire Infratec from WEL Networks, combining commercial and utility scale solar and storage delivery in New Zealand and the Pacific, in a day of smaller capital moves across solar, fusion and LNG.
Igneo Infrastructure Partners has closed the fourth vintage of its European Diversified Infrastructure Strategy at its 6 billion euro hard cap, six months after first close and 50 percent above its 4 billion euro target.
Group14 Technologies has closed a 150 million euro (about $169 million) Series D extension to fund global manufacturing expansion, including a 10 gigawatt hour silicon battery materials plant at Sagunto in Spain.
The United States Navy has awarded Fluor Marine Propulsion a $2.41 billion cost plus fixed fee contract modification for nuclear propulsion work at the Naval Nuclear Laboratory.
Exelon says its utilities could spend $3 billion to $7 billion building 1.5 to 3.5 gigawatts of regulated energy storage, on top of a $1 billion, 500 megawatt project already proposed in New Jersey.
Coal India is preparing to launch the initial public offering of Mahanadi Coalfields as early as this month, in a sale reported to raise as much as $1 billion and value the subsidiary at as much as $10 billion.
Arevon Energy has secured a $120 million tax equity commitment from Wells Fargo for its 124 megawatt Big Muddy Solar project in Jackson County, Illinois.
WHO Director-General Tedros Adhanom Ghebreyesus warned on Monday that violence in northern Ethiopia is pushing a fragile health system closer to collapse, after drone strikes on a displacement camp in Amhara killed at least 15 people including children.
UNESCO's biennial report found 189 journalists and media workers were killed in 2024 and 2025, up 20 percent on the previous period, with the share of killings left unpunished rising to 86 percent, the first increase since measurement began in 2012.
Limpopo police arrested two men on Monday for removing election posters and for assault and intimidation after a party supporter's T-shirt was burned, and arrested a 32 year old voter on Tuesday for photographing his marked ballot during special voting.
Smaller political developments for Tuesday, November 3: the Justice Department faces a difficult Alaska election appeal, a judge dismissed charges against former FBI officials, and Libya's parliament backed a new central bank chief.
The final 1News Verian poll put New Zealand's ruling National Party at 30 percent and Labour at 29 percent four days before Saturday's general election, leaving the centrist Opportunity Party, at 6 percent, as the support either bloc would need to govern.
The European Commission presented guidelines on Tuesday to help people meet their essential needs during the first 72 hours of a crisis and proposed an annual EU Preparedness Day every October 23 starting in 2027.
The Ninth Circuit voted 2 to 1 late on Monday to pause a district court order that barred the Trump administration from demanding officials set aside ballots from suspected noncitizens or threatening election workers with prosecution.
The Bank of England has approved a link between HSBC and LSEG's digital securities depositories for DIGIT, the UK's first digitally native government bond, and the six lead banks have been given their specific roles for the pilot issuance expected by the first quarter of 2027.
Swiss consumer prices rose 0.2 percent in October from September, leaving annual inflation at 1.5 percent, the Federal Statistical Office said on Tuesday.
Overnight stays in Spain's non-hotel tourist accommodation fell 1.5 percent year on year in September, UK regulators opened a consultation on credit union reform, and Ghanaian analyst Theo Acheampong projected Ghana's inflation staying below 10 percent for the next three to four years.
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers appear before the House of Commons Standing Committee on Finance from 11:00 AM to 1:00 PM Eastern today to discuss the bank's recent policy announcement and Monetary Policy Report.
Libya's eastern based House of Representatives voted on Monday to appoint Fawzi Abu Khazam governor of the Central Bank of Libya and to accept the resignation of Naji Issa, with 78 of the 90 lawmakers present voting in favour.
Large US bond investors are stepping back from fresh trades ahead of Tuesday's midterm elections, Wednesday's Treasury refunding announcement and the November 10 inflation report, the Financial Times reported, with PGIM's Greg Peters calling it a pause moment after a big rally in Treasuries.
The Bank of England is expected to raise Bank Rate to 4.0 percent from 3.75 percent on Thursday, its first increase since August 2023, as energy driven inflation pressures the Monetary Policy Committee.
Ferrari reported third quarter net revenues of 1,896 million euros, up 7 percent, and raised its full year 2026 guidance for revenue, profit and free cash flow.
Gartner says open weight models can handle 90 percent of agentic workflow steps at a fraction of frontier model cost, Raspberry Pi raised prices again on memory costs, and Qualcomm detailed its AI inference data centre push.
The New York Times sued browser maker Brave in federal court in Manhattan on Monday, alleging it scraped copyrighted content and distributed it to AI customers including Anthropic, Perplexity, Mistral, xAI and Cohere, with a parallel suit from the Daily News, Chicago Tribune and Orlando Sentinel.
South Korean AI chipmaker FuriosaAI has completed a 620 million dollar Series D round at a post-money valuation of approximately 2.9 billion dollars, led by South Korea's National Growth Fund with 280 million dollars.
Digital Realty reported quarterly revenue of 1.9 billion dollars, up 21 percent year over year, with total leasing of 855 million dollars and a record backlog of 2.5 billion dollars.
The EU General Court has ruled that cloud association CISPE can keep confidential the identities of members backing its challenge to the European Commission's unconditional approval of Broadcom's VMware acquisition.
Apple's inventory rose to 14.54 billion dollars in its September quarter, up 31.1 percent from the June quarter and 154.3 percent from 5.72 billion dollars a year earlier, as the company stockpiled memory against rising prices.
Anthropic's Australian subsidiary has entered lease documentation with Australian Data Centres for the first stage of a proposed hyperscale campus in Queensland's Western Downs, according to majority owner Dexus's September quarter update to the ASX.
Israeli startup 42AI has emerged from stealth with 62.5 million dollars in seed funding for a behavioural world model it says can estimate the probability of individual decisions, deployed first at financial brokerages.
AstraZeneca detailed a 1.5 billion dollar annual cost savings programme alongside its third quarter results, while Alnylam shares fell more than 20 percent on Amvuttra reimbursement headwinds despite in line sales.
Fresenius has taken exclusive option rights on up to 37 biosimilar candidates from WuXi Biologics, a deal that could lift its portfolio from 29 molecules to as many as 66 over the next decade.
The FDA has placed a partial clinical hold on Bright Minds Biosciences' planned Phase 2 trial of BMB-101 in developmental and epileptic encephalopathies, citing toxicity in mice and insufficient data to support enrolling children.
CinRx Pharma and Graviton BioScience have formed a jointly governed company, CinRock Pharma, to develop two ROCK2 inhibitor candidates for pulmonary arterial hypertension and heart failure with preserved ejection fraction.
Brise Pharmaceuticals has disclosed the terms of its 2024 licence with AbbVie covering two preclinical migraine programmes, worth up to 757 million dollars in milestones plus royalties.
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