{
  "id": 17890010,
  "title": "Global Market Today: Asian stocks slide as US chip selloff deepens",
  "url": "https://urgent.news/2026/11/03/global-market-today-asian-stocks-slide-as-us-chip-selloff-deepens",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T01:03:28.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/us-stocks/news/global-market-today-asian-stocks-slide-as-us-chip-selloff-deepens/articleshow/135478154.cms"
  },
  "original_language": "en",
  "account": "Asian markets started the day on a downward trend following a continued decline in US chipmakers, while oil prices fell as expectations of a resolution to the conflict in Iran grew. The MSCI Asia Pacific index fell by 0.4%, with the South Korean Kospi Index decreasing by nearly 3%. In the United States, a chipmaker index dropped by 12%, and the Nasdaq 100 declined by 10% from its previous high, entering a technical correction. US stock futures, however, increased, suggesting buying interest amid the downturn. Japan was closed for a national holiday during these events.\n\nChina's stock market also gained attention as the central bank encouraged financial institutions to utilize stock-support tools and optimize their terms in an effort to improve market stability. Attention was also directed to Chinese equities after the central bank's announcement. Meanwhile, Apple Inc. experienced a drop in its shares following a mixed quarterly report from the company, with narrower profit margins despite a positive sales forecast. Anthropic PBC reported a twelve-fold increase in quarterly revenue, alongside plans to invest more than $895 billion in the upcoming year.\n\nThe price of US oil also decreased early Tuesday, after global benchmark Brent crude dropped by 7.6% to close at $104.77 a barrel. This drop in oil prices was attributed to signs of progress in resolving the Iran conflict, as well as the upcoming US midterm elections. The US dollar gauge fell on Monday, while longer-term Treasuries outperformed. Easing tensions in the region led to lower energy prices and inflation risks, but the decline in crude oil did not revive interest in technology shares due to ongoing concerns over AI spending and high valuations.\n\nUS officials made statements regarding the potential for peace talks in Iran. Iranian President Masoud Pezeshkian mentioned his government received more authority from the supreme leader to engage in peace negotiations. Meanwhile, former President Donald Trump hinted at progress in talks and pointed to falling oil prices as evidence of progress. He later made a statement regarding the possibility of resuming military strikes on Iran following the midterm elections, which was met with disagreement from a reporter.\n\nChina responded to the Nasdaq Golden Dragon China Index's 2.3% rise in US trading, after announcing new stimulus measures. This response was deemed as a significant gain since October 9, though analysts suggested that the measures would help stabilize the market rather than trigger a long-term rally. Chinese shares have been struggling since the summer, suffering from a weak economy and doubts about AI-related earnings. Previous attempts to revitalize the market, including buying activities by the \"national team\" in July and regulatory guidance to curb selling in the previous month, have not succeeded. The CSI 300 benchmark fell by 8.5% in October, marking its worst month in over a decade.\n\nOther tech companies are also returning to US bond markets to fund investment plans. Companies like Oracle, Meta Platforms, Microsoft, and Alphabet have recently sold bonds alongside equity offerings. This trend occurs as investors assess AI spending and potential growth opportunities. Economic data releases, including US manufacturing activity, labor-market reports, and upcoming job openings data, were added as potential market catalysts. The focus on AI investment returns and their impact on stock performance would likely play a significant role in determining the market's direction moving forward.",
  "summary": "The MSCI Asia Pacific gauge dropped 0.4% with South Korea’s Kospi Index sliding almost 3%. In the US, a gauge of chipmakers extended a three-day rout to 12% and the Nasdaq 100 sank 10% from its peak, entering a technical correction. In a sign some investors are looking to buy on dips, US stock futures gained. Japan is closed for a holiday.",
  "key_points": [],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/17890010.png",
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Asian stocks fall after US losses, oil holds drop",
        "url": "https://urgent.news/2026/11/03/asian-stocks-fall-after-us-losses-oil-holds-drop",
        "published": "2026-11-03T01:00:28.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Asian stocks retreat ahead of US midterms, oil steadies",
        "url": "https://urgent.news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies-17898386",
        "published": "2026-11-03T02:28:10.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Asian stocks retreat ahead of US midterms, oil steadies",
        "url": "https://urgent.news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies",
        "published": "2026-11-03T02:31:02.000Z"
      },
      {
        "outlet": "The Jakarta Post",
        "title": "Asian stocks retreat ahead of US midterms, oil steadies",
        "url": "https://urgent.news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies-17897566",
        "published": "2026-11-03T02:48:05.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Asian stocks retreat ahead of US midterms, oil steadies",
        "url": "https://urgent.news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies-17904198",
        "published": "2026-11-03T03:01:57.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Asian stocks retreat ahead of US midterms, oil steadies",
        "url": "https://urgent.news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies-17901574",
        "published": "2026-11-03T03:08:19.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Asian stocks fall after US losses, oil holds drop: Markets Wrap",
        "url": "https://urgent.news/2026/11/03/asian-stocks-fall-after-us-losses-oil-holds-drop-markets-wrap",
        "published": "2026-11-03T03:59:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}