Economic news moving markets.

CSI300 drops over 20% from June peak, entering bear market by some measures

Chinese mainland shares fell further on Friday as a global tech selloff, Middle East tensions and French debt worries drove investors toward safer assets. The CSI300 dropped 1.1% and is now down more than 20% from its June 22 high.

Tokyo weighs trimming gasoline aid starting in December

Japan's ruling party is discussing a partial pullback of gasoline price support beginning in December, as the monthly expense grows too heavy to maintain, insiders say, a step that would push fuel costs higher into the new year.

UK retail sales drop 0.4% in September, well below forecasts

UK retail sales fell 0.4% month-on-month in September, missing expectations for a 0.1% decline, after a revised 0.7% rise in August, the Office for National Statistics (ONS) reported. GBP/USD edged lower on the data.

Brent crude tops $114 as Saudi, Libyan supply risks escalate

Brent crude climbed to $114.00 a barrel and WTI crude rose to $100.40, as Houthi attacks on Saudi infrastructure and a Libyan pipeline shutdown fuelled a sharp weekly rally in oil prices.

Yen jumps as AI stock worries spark flight to safety

USD/JPY dropped nearly 0.65% on Thursday to around 157, its lowest since September 30, as fears over AI-related investment hit global equities and lifted demand for the Japanese yen.

10-year Treasury yield drops below 5% as AI credit worries spur safety bid

The US 10-year Treasury yield fell about 13.5 basis points, dipping under the 5% mark, as investors sought shelter from renewed stress in AI-linked credit and stock markets.

White House taps wartime law as US gasoline breaks $4 a gallon

President Donald Trump has triggered Section 303 of the Defense Production Act to designate domestic oil output and refining as critical to national defense, a move landing just 12 days before the US midterm vote.

Oil climbs past $114 as Aramco clears staff from Dhahran base

Brent crude climbed 0.45% to $114.02 a barrel and WTI added 0.42% to reach $100, putting Brent on course for a third consecutive weekly rise after Saudi Aramco pulled personnel from its Dhahran headquarters.

Tech selloff drags Nasdaq down 2.58% on AI spending fears

The Nasdaq Composite slid 2.58% to close at 26,008.86 and the S&P 500 shed 1.19% to end at 7,664.77 after corporate earnings reports reignited unease over heavy AI infrastructure outlays, while the Dow Jones Industrial Average inched higher, adding 0.03% to finish at 52,873.60.

AI stock slide pushes Treasury yields down more than 15bp

A steep drop in artificial intelligence shares drove investors toward US government debt, sending 2-to-10-year Treasury yields lower by at least 15 basis points in their sharpest single-day decline in over a year.

Japan’s core prices rise 2.1% in September, back above BoJ’s goal

Japan's core consumer prices rose 2.1% year-on-year in September, matching forecasts and climbing back above the Bank of Japan's 2% objective for the first time since December. The yen strengthened on the news.

Gold drops below $4,050, two-month low, as oil jumps on Saudi attacks

Gold (XAU/USD) traded near $4,025 in early Asian hours on Friday, its weakest level in more than two months, after oil prices surged on fresh attacks in Saudi Arabia ahead of next week's Federal Reserve meeting.

Norway’s oil fund posts $30 billion loss in third quarter

Norway's $2.3 trillion Government Pension Fund Global returned -0.5% in the third quarter, a loss of about $30 billion, as higher interest rates weighed on bonds and equities.

Tesla cuts 2026 capex forecast to $20 billion, shares fall 2%

Tesla lowered its 2026 capital spending outlook to about $20 billion from more than $25 billion after underspending on AI and robotics in the third quarter, sending shares down 2%.

Silver falls below $54, hits fresh 2025 low

Silver (XAG/USD) dropped below $54.00 on Friday, its weakest level since November 2025, as the metal heads for a second straight weekly decline.

Pound stays above 1.3400 as UK inflation surprise lifts BoE hike bets

GBP/USD trades near 1.3405 after UK September CPI came in hotter than forecast, reinforcing expectations the Bank of England will raise rates next month.

France-Germany yield gap approaches 2011 extreme, euro at risk

The gap between French and German 10-year borrowing costs has widened to 175 basis points, nearing the roughly 190-bp peak reached during the 2011 crisis, and Brown Brothers Harriman cautions EUR/USD could drop toward 1.1000 should it keep growing.

ING: ECB Set to Pause on October 29 as French Yields Do the Tightening

ING's Carsten Brzeski thinks the European Central Bank will keep borrowing costs unchanged at next week's meeting, since climbing bond yields linked to France's budget turmoil are already delivering the equivalent of a rate increase.

European gas prices hit near 3-year high as Middle East tensions escalate

Dutch TTF gas futures climbed close to 90 euros per megawatt-hour on Thursday, the highest since December 2022, as escalating conflict involving Saudi Arabia, the Houthis and Iran unsettled energy markets ahead of the European winter.

Trump accuses Tehran of engineering higher oil prices before midterms

President Donald Trump has charged that Iran is artificially pushing crude prices higher ahead of November's congressional midterms, insisting shipping through the Strait of Hormuz now exceeds pre-conflict levels.