CBN News, October 15, 2026, 06:59:03 - Listen to the news
Author: Chen Xiyu Editor-in-Chief: Ge Weier
*All three major U.S. stock indices fell, with the Nasdaq dropping 1.88% and the S&P 500 falling 1.11%;
*Chip stocks are in a state of despair, with SK Hynix falling by 6.1%;
International oil prices rose slightly, with WTI increasing by 1%.
On Wednesday (the 14th), all three major U.S. stock indices fell. U.S. inflation data for September exceeded expectations, and AI related sectors faced selling pressure, dragging down the overall market.
As of the close, the Dow Jones Industrial Average fell 48.62 points, a decrease of 0.09%, to 51,621.48 points; the Nasdaq Composite Index fell 511.51 points, a decrease of 1.88%, to 26,692.87 points; the S&P 500 Index fell 86.51 points, a decrease of 1.11%, to 7,718.94 points.
【Popular Stocks Performance】
Leading tech stocks generally fell. Meta declined by 3.27%, NVIDIA fell by 3.16%, SpaceX fell by 2.80%, Tesla fell by 2.15%, Microsoft fell by 1.80%, and Amazon and Google's parent company Alphabet both fell by 1.74%. Apple Company managed to rise by 0.50% against the trend, while Netflix rose by 0.16%.
In addition to concerns about inflation, investors' worries about tech companies other than the "Big Seven" overborrowing excessively to bet on the AI craze have also risen again. The stock price of AI, a US CoreWeave cloud computing company, plummeted by 15.46%, and some of its bonds issued earlier this year fell to new lows in the secondary market, highlighting investors' concerns about their credit quality. Oracle's stock price also dropped by 8.83%.
Chip stocks are in a state of distress, with the Philadelphia Semiconductor Index closing down 4.3%. SK Hynix fell 6.1%, AMD fell 5.7%, SanDisk fell 5.3%, and Micron fell 4.1%.
Popular Chinese concept stocks generally fell, with the NASDAQ Golden Dragon China Index closing down 1.39%. Bilibili dropped 4.74%, NIO fell 4.21%, Li Auto fell 4.17%, iQiyi fell 4.06%, Futu Holdings fell 4.04%, Xpeng Motors fell 3.38%, Tiger Securities fell 3.23%, Zhihu fell 3.16%, Baidu fell 2.25%, New Oriental fell 1.77%, Tencent Holdings fell 1.39%, NetEase fell 0.83%, Weibo fell 0.76%, Pinduoduo fell 0.62%, and JD.com fell 0.37%. Alibaba, however, rose 0.29% against the trend.
【Market Overview】
Data shows that the U.S. Consumer Price Index ( CPI ) in September rose 0.6% month-on-month, in line with expectations; it also rose 3.7% year-on-year, higher than economists' forecast of 3.6%.
Excluding food and energy prices, the core CPI rose 0.3% month-on-month and 2.6% year-on-year, both slightly higher than economists' expectations of 0.2% and 2.5%.
Beth Halmack ( Beth Hammack ), the president of the Cleveland Federal Reserve, previously stated that high inflation has begun to become the "new normal" for consumers.
Philip Brancato, the chief market strategist at the American wealth management firm Osaic, believes that this makes the Federal Reserve's interest rate meeting in December full of uncertainties; considering the impact of rising oil prices, next year's core CPI may be around 3%.
Market analysis indicates that the intraday market turmoil highlights Wall Street's high sensitivity to two major concerns: firstly, interest rates remaining 'higher for longer'; secondly, the economy's excessive reliance on a single industry. Ryan Junker, portfolio manager at the asset management firm Newfleet, stated, 'That sector has almost dominated everything; the market seems to have been caught in a whirlwind.'
At the time of the release of these inflation figures, oil prices remain high, resulting in a significant increase in consumers' gasoline expenses. According to data from the American Automobile Association ( AAA ), the current average price of gasoline in the United States is $4.33 per gallon, compared to about $3.08 a year ago. Last week, U.S. President Donald Trump announced that he would temporarily relax restrictions on diesel exports to Russia, but analysts believe that this move will have a limited effect on reducing fuel costs for truck drivers and farmers.
In addition to tech stocks, Bank of America's third-quarter revenue fell short of expectations, and its stock price closed down 4.76%. The bank was fined over $1.2 billion by regulatory authorities for failing to report suspicious transactions worth more than $5 billion.
Morgan Stanley closed down 2.75%, despite its latest quarterly results exceeding expectations.
Regarding the situation in the Middle East, according to Xinhua News Agency, the U.S. Central Command announced on social media on the 14th that on the 6th, U.S. forces destroyed a sailboat associated with Iran in the Gulf of Oman. The announcement stated that the boat was monitoring U.S. Navy vessels and identifying targets at the time. Before the boat was destroyed, the personnel on board were safely evacuated; currently, repatriation procedures are underway.
According to CCTV News, the Houthi rebels in Yemen issued a statement claiming to have attacked Riyadh International Airport, the capital of Saudi Arabia, with ballistic missiles, stating that "the missiles hit their targets precisely." The statement also mentioned that the Houthi rebels used three more ballistic missiles to attack military targets of the Saudi-led coalition forces in two locations within Yemen, resulting in numerous casualties and damaging multiple vehicles.
【Large-Cap Performance】
International oil prices have risen slightly. WTI In November, crude oil futures closed up $0.95, with a gain of 1.01%, at $95.09 per barrel. Brent crude oil futures for December also closed up $0.37, with a gain of 0.35%, at $106.06 per barrel.
Precious metal prices have fallen. COMEX Gold futures dropped by 1.46%, to $4,121.90 per ounce. COMEX Silver futures fell by 6.20%, to $55.700 per ounce.
