Semiconductors led a broad Friday selloff, Broadcom down 4.52 percent and the chip index down 4.14 percent, while WTI crude fell 3.12 percent from a five-month high after the Russia sanctions waiver.
Broadcom fell 4.52 percent to 328.75 dollars and the semiconductor index fell 4.14 percent, the largest moves in the tables, with the technology sector down 3.02 percent, the Nasdaq 100 down 2.50 percent, Meta down 3.72 percent and Alphabet down 2.47 percent. The selloff itself was reported in this site’s Friday and weekend editions, and this morning’s reporting adds the Monday read rather than a new cause: Seoul’s Kospi opened down 3.17 percent and pared the loss to 1.36 percent in early trade (see today’s Kospi story), while investors pressed Nscale to cut its IPO valuation by more than a third (see today’s Nscale story on the infra-deals beat), fresh evidence that the repricing is hitting AI infrastructure valuations as well as listed chip names.
WTI crude fell 3.12 percent to 98.25 dollars and Brent fell 1.24 percent to 108.50 dollars. Today’s commodities reporting explains the move: oil slipped from a five-month high after President Trump defended the waiver of the Russia and Iran sanctions provisions (see today’s Brent and waiver story on the commodities beat), which loosened the supply risk premium even as Qatar warned the energy shockwaves from the Iran war have yet to peak.
Rare earth miners fell 2.71 percent and lithium and battery miners fell 2.32 percent, extending a weekly slide of 11.05 percent and 8.15 percent respectively. This morning’s commodities dashboard records the falls alongside China’s export-led growth beat, but no single story in this morning’s reporting explains the move, and it is best read as part of the same transition supply chain derating as the chip complex.
The cross-market read is a valuation shock, not a macro one. Yields barely moved, the United States 10 year added 0.9 basis points to 5.10 percent, the dollar index was flat, and gold rose 0.20 percent, while equity risk concentrated in the AI supply chain and the miners attached to it. The energy complex falling on a sanctions waiver at the same time is a separate, policy-driven leg, which is why crude and chips can drop together without it signalling a growth scare.
Chicago wheat rose as much as 0.8 percent on Monday and was up 0.6 percent at 6.645 dollars a bushel in Singapore trading, after weekend strikes between Russia and Ukraine made a restart of Black Sea exports from the two producers look less likely.
Ukraine is in talks with Turkey, Egypt and India on opening Black Sea civil navigation for food exports, President Zelenskyy said, with Kyiv able to export only 38 percent of regular volumes since shipments halted in August and Russia opposing the plan.
President Trump defended his waiver of Russia sanctions on Sunday as a negotiating step, writing that he did not want to drive Russia away from the bargaining table, while former Vice President Mike Pence has called the diesel deal a betrayal of Senator Lindsey Graham's legacy.
A 50 year old Ukrainian army officer identified as Serhii K. went on trial in Hamburg on Monday accused of committing a war crime by leading the 2022 sabotage of the Nord Stream gas pipelines, with prosecutors saying he had a mandate from Ukrainian authorities.
Japan's nationwide average power price rose more than 25 percent week on week to 31.15 yen, or 0.19 dollars, per kilowatt hour on Monday, as spot LNG for December delivery into north east Asia reached 29.30 dollars per million British thermal units, its highest since December 2022.
India paid 15.4 billion dollars to import crude oil in September, up 46 percent from 10.5 billion dollars a year earlier, as the Indian crude basket averaged 116.09 dollars a barrel and import volumes rose only 7 percent.
Global food inflation is poised to accelerate in the coming months and persist well into 2027, Reuters reported, with the FAO Food Price Index averaging 136 points in September, its highest since November 2022, and food prices outpacing headline inflation in 22 percent of the 150 countries the World Bank analysed.
Copper traders are growing wary of the bull market as the expected US tariff decision on refined copper remains missing, with US stocks on and off exchange now estimated by Macquarie at about 1.6 million tons and the Comex to London arbitrage down to about 310 dollars a ton.
Goldman Sachs expects Brent at 90 dollars in December and an 80 dollar average in 2027 as Middle East supply recovers, the European Commission put the EU renewable share at 26.2 percent in 2025 against a 42.5 percent 2030 target, and Egypt is shifting power plants from gas toward fuel oil at roughly half the cost.
South32 reported September quarter payable copper production of 18,700 tonnes from its Sierra Gorda share, up 2 percent year on year but below the 19,200 tonne Visible Alpha consensus, and its shares closed 2.59 percent lower at 4.51 Australian dollars.
Core Lithium cut 92 metres at 1.25 percent lithium oxide at Finniss, Liberia launched its Limec 2026 investment conference, and a Peabody evacuation order recirculating today dates from July, not this week.
The first 40 million US dollars of Glencore funding for Orion Minerals' Prieska copper zinc mine in South Africa's Northern Cape is now unconditional, clearing development of the Uppers mine to start with first drawdown expected by the end of October.
Ghana's lands minister says District Mining Committees will begin issuing mining licences locally under the new Minerals and Mining Act, ending the requirement to pursue licences through Accra, as cooperative mining societies replace illegal galamsey workings.
Fortescue has sold more than 40 tonnes of copper concentrate cleaned by its Toowong arsenic removal process, cutting arsenic from up to 7 percent in feedstock to below 0.25 percent while retaining more than 99.9 percent of the copper.
Cobalt Blue Holdings has signed a non-binding term sheet with Swiss trader STG Metals for the sale of standard grade cobalt rounds from its planned Kwinana Cobalt Refinery in Western Australia, a project of about 3,000 tonnes of cobalt a year.
CME Group will launch financially settled tungsten futures on COMEX by early in the first quarter of 2027, giving a market worth more than 20 billion dollars its first exchange traded forward price.
China's primary aluminium production reached a record 11.84 million tonnes in the third quarter, up 2.2 percent year on year, with September output of 3.91 million tonnes, official data showed on Monday.
CoreWeave Inc's bond, CUSIP 21873SAD0, printed at 79.6097 at 10:01:29 ET on 2026-10-19, down from a previous print of 84.0 and 14.62 points below its latest fund mark.
KKR has agreed to sell Infinity Transportation, the railcar and intermodal equipment lessor with about 50,000 railcars, to Ares Infrastructure Equity and Ares Insurance Solutions funds for an enterprise value of about 2.9 billion dollars.
Dangote Petroleum Refinery said its ongoing initial public offering has drawn subscriptions from more than 90 countries, including 51 of Africa's 54 nations, and reported nine-month revenue of 22.5 billion dollars and net profit of 4.7 billion dollars ahead of the offer's October 27 close.
Tanzania's Amsons Group has agreed to acquire Geneva-based Oryx Energies' downstream oil business in Tanzania, including its service stations, storage terminals and distribution network, in a transaction valued at more than 230 million dollars, lifting its fuel storage capacity from 300,000 to 800,000 metric tonnes.
Primary Health Properties has agreed a 50-50 joint venture with Singapore's GIC, seeded with 27 private hospitals valued at about 700 million pounds, and expects about 500 million pounds of net proceeds.
MSC has been confirmed as joint buyer with Rheinmetall of Romania's bankrupt Mangalia shipyard for 138 million euros, in a deal expected to close within weeks.
France's Epyr raised 15 million euros for industrial heat storage, the Dangote refinery listing drew interest from 90 countries, and sponsor add-on deals ran from Dutch content software to South African seaweed inputs.
The EU LIFE programme has awarded 390 million euros to 135 climate, nature, circular economy and clean energy projects, mobilising total investment of 579 million euros.
EMK Capital has closed a 1.25 billion euro single-asset continuation fund for Dutch installation group VDK Groep, co-led by LGT Capital Partners and Coller EQT.
Egypt's regulator has approved the prospectus for selling 30 percent of state-owned Banque du Caire, up to 4.575 billion shares worth as much as 24.25 billion Egyptian pounds.
The European Commission has selected 77 net-zero technology projects for 3.4 billion euros of Innovation Fund support, financed from Emissions Trading System revenues.
Ares infrastructure equity funds have acquired a significant minority stake in Statera Energy's operational UK storage and flexible generation portfolio of about 1.9 gigawatts.
The European Commission has signed an association agreement with Andorra and San Marino giving both access to the EU internal market under common rules, alongside updated monetary agreements on their use of the euro.
Mexican protesters demanding clean water forced their way into a state congress, the UN set out the aim of its Haiti sanctions as cutting gang ammunition supplies, and biodiversity talks opened in Armenia.
China's commerce ministry and eight other departments jointly published an opinion on accelerating technology-driven commerce on October 19, the first comprehensive document under that theme, covering goods, services, distribution and future retail scenarios.
Arab party leaders are urging Israel's 21 percent Arab minority to vote in large numbers on October 27, with polls projecting the anti-Netanyahu bloc of Gadi Eisenkot at 52 of 120 Knesset seats and Netanyahu's bloc at 50, short of a majority without Arab support.
Albertans are voting today, with polls open from 9 a.m. to 8 p.m. Mountain Time, on ten referendum questions, the last of which asks whether the province should remain in Canada or begin the legal process toward a binding separation referendum.
The People's Bank of China issued a joint departmental notice whose full text was not readable in this run, Dubai's economy reached 129 billion dollars in the first half, and a report said the Bank of England is examining Barclays over private credit loans.
The Association of Banks of Paraguay on Sunday asked the Central Bank of Paraguay to publish the solvency position of every lender that received facilities in merger processes, days after senators from the ruling party and the opposition called on President Santiago Pena to remove the central bank's leadership, MercoPress reported.
Food inflation in September ranged from 34.4 percent in Lagos and 33.79 percent in Imo to a decline of 7.47 percent in Taraba and 2.18 percent in Borno, the National Bureau of Statistics said, against a national food rate of 19.59 percent and headline inflation of 14.63 percent.
New Zealand's September quarter consumer price index, due October 22, is forecast by banks between 3.7 and 4.0 percent annually against the Reserve Bank's 3.9 percent projection, with markets pricing roughly an 80 percent chance of a rate increase at the meeting that follows, according to bank previews.
Japan sold one-year treasury discount bills, issue 1414, at a lowest accepted yield of 1.6322 percent and a weighted average yield of 1.6229 percent on Monday, drawing 7,605.0 billion yen of competitive bids for 1,686.7 billion yen accepted, the Ministry of Finance said.
India's conversion auction on Monday accepted 11,302.18 crore rupees of source securities against 20,000 crore notified, switching holders into destination bonds maturing from 2033 to 2060 at cut-off yields between 7.3590 and 7.8391 percent, the Reserve Bank of India said.
Ghana's average bank lending rate fell to 15.9 percent in August 2026 from 24.2 percent a year earlier, and the interbank weighted average rate fell to 10.2 percent from 23.3 percent, as the Bank of Ghana's cut in its policy rate to 14.0 percent from 25.0 percent passed through the system, the central bank said.
Ghana's treasury bill auction drew 5.173 billion cedis of bids against a 5.019 billion target and accepted 3.481 billion, with the 91-day yield up 2 basis points to 4.62 percent and the 364-day yield down 4 basis points to 9.71 percent, MyJoyOnline reported from Bank of Ghana results.
Post-crisis regulation costs euro area banks about 35 basis points to lend unsecured in money markets and about 15 basis points to borrow, against typically well below 10 basis points for repo backed by high-quality collateral, an ECB occasional paper published on Monday estimates.
All 22 market participants in a Reuters survey expect China to leave the one-year loan prime rate at 3.00 percent and the five-year rate at 3.50 percent on Tuesday, a seventeenth straight month on hold, after third quarter growth beat expectations.
Canada publishes September consumer prices and the Bank of Canada's third quarter Business Outlook Survey and Canadian Survey of Consumer Expectations on Monday, the last major evidence before the bank's October 28 decision and its promised significant upward revision to the inflation forecast.
Indian states accepted 23,016.418 crore rupees of the 24,400 crore notified in Monday's state government securities auction, after Andhra Pradesh accepted nothing on its 1,000 crore reissue and Punjab took only part of its 2035 line, the Reserve Bank of India said.
Frontier has signed an 11.7 million dollar carbon removal deal with 44.01 for 20,932 tons, Khosla Ventures has led a 50 million dollar round for India's Even Healthcare at a 300 million dollar valuation, and time standards bodies have voted to abolish leap seconds.
Replit chief executive Amjad Masad said the AI coding platform is no longer working with Anthropic as its partner and has made OpenAI's ChatGPT its default, citing cost, partnership and benchmark performance, while clarifying that customers can still choose Claude models.
A Linux flaw tracked as CVE-2026-99999 and rated 9.3, now named PwnEscape, lets a guest virtual machine escape to its host using malformed IPv4 packets, with an upstream kernel fix already moving into major distributions.
Hillwood Polska has reduced the size of its planned 130 megawatt data center campus at Reguly, southwest of Warsaw, and moved the buildings further from homes, after residents objected over water, electricity and noise.
GreenSquare has opened the first phase of its SYD1 campus in western Sydney, a reused 1995 IBM data center now hosting about 8,200 Nvidia Blackwell Ultra GPUs for Australian AI cloud firm Sharon AI, with an 80 megawatt expansion planned.
Disney has agreed to offer jobs to at least 60 Character.AI employees, the majority of its workforce, at an estimated 60 million dollars in annual compensation, after the chatbot startup filed for bankruptcy, a legal filing reported by Bloomberg and TechCrunch shows.
The UK Court of Appeal has refused Microsoft permission to appeal to the Supreme Court in its long running dispute with ValueLicensing over reselling pre-owned software licenses, leaving a November 2025 ruling for ValueLicensing in place.
ConnectWise has suspended its Cloud Backup, SaaS Security and Cloud Management services after detecting unauthorized access to application identities on October 15, leaving managed service providers unable to back up or restore customer data while the investigation continues.
Hansoh Pharmaceutical units have entered a partnership and licensing deal with Roche covering a portfolio of antibody drug conjugate programs, worth potentially more than 15 billion dollars, with 400 million dollars paid upfront.
UK regulators have opened a consultation on schools holding adrenaline nasal sprays, Zealand Pharma cleared a Phase 1 safety readout for its Kv1.3 blocker, and Roche previews a three program ESMO data package led by its KRAS drug divarasib.
OSE Immunotherapeutics' cancer vaccine Tedopi, combined with docetaxel or nivolumab, produced one year overall survival of 47 percent and 46 percent against 29 percent for docetaxel alone in the Phase 2 Combi-TED trial in second line metastatic lung cancer.
Veradermics' extended release oral minoxidil VDPHL01 met all primary and secondary endpoints in the 536 man Phase 3 Study 304 in male pattern hair loss, with no treatment related serious adverse events and no cardiac events of special interest.
California's Proposition 38, an $8.4 billion bond for immunology research on the November 3 ballot, has divided the field's top US association, STAT reported, because half the money is reserved for a single UC affiliated institute matching criteria tied to the measure's main funder.
The FDA has approved a once daily autoinjector for UCB's Zilbrysq (zilucoplan), giving adults with anti AChR antibody positive generalised myasthenia gravis a second self administration option, with complete dose delivery in 99.8 percent of 449 autoinjector uses.
GSK's B7-H3 antibody drug conjugate risvutatug rezetecan produced a confirmed objective response rate of 61 percent at the 8 mg/kg dose in relapsed extensive stage small cell lung cancer, against 32 percent at 6 mg/kg, in the first global data from the EMBOLD PanTumour-101 trial.
Gilead's oral pill emvistegrast produced a 23 percent placebo adjusted clinical remission rate at 12 weeks in moderate to severe ulcerative colitis, a statistically significant Phase 2 result that STAT reported beat Wall Street expectations.
Treating ulcerative colitis patients to full disease clearance with Takeda's Entyvio, rather than symptom remission alone, cut the risk of a first disease related complication by nearly 70 percent (hazard ratio 0.33, p=0.0014) in the Phase 4 VERDICT trial.
You’re caught up. Browse the archive.