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investingLive Americas market news wrap: Nasdaq sinks and oil jumps

<ul><li><a href="https://investinglive.com/central-banks/boj-s-ueda-we-will-continue-to-raise-rates-as-underlying-inflation-approaches-2" rel="follow">BOJ’s Ueda: We will continue to raise rates as underlying inflation approaches 2%</a></li><li><a href="https://investinglive.com/news/us-september-import-price-index-1-1-vs-0-8-expected" rel="follow">US September import price index +1.1% vs +0.8% expected</a></li><li><a href="https://investinglive.com/news/us-september-industrial-production-0-7-vs-0-4-expected" rel="follow">US September industrial production +0.7% vs +0.4% expected</a></li><li><a href="https://investinglive.com/news/us-fiscal-2026-budget-deficit-was-the-largest-in-five-years" rel="follow">US fiscal 2026 budget deficit was the largest in five years</a></li></ul><p>Markets:</p><ul><li>Gold down $2 to $4168</li><li>US 10-year yields down 2 bps to 5.09%</li><li>S&P 500 down 1.2%</li><li>Nasdaq down 2.3%</li><li>WTI crude oil up $3.40 to $101.37</li><li>NZD leads, USD lags</li></ul><p>S&P 500 futures were higher heading into the North American session but certainly didn't stay that way. Yesterday's rumors of an AI fund blowing up persisted and spread today. The neoclouds were hard hit again on all kinds of talk about how CoreWeave could use equity to meet debt obligations. They weren't the only ones as the financing problems are underscoring how difficult it will be to find all the capital for the promised AI build out. The SOX chip index fell for an eighth day.</p><p>The oil market was more of a mystery as prices jumped higher in the US afternoon. The usual culprits are being pointed at, with the risks of a US escalation in Iran on the weekend. Even with that, the bond market was taking more of its cues from equities as yields ended the day lower. Earlier, Warsh didn't offer much in how he was leaning ahead of the upcoming meeting but that was generally seen as an endorsement of current market pricing.</p><p>In FX, the US dollar slumped again in another sign of the correlation between AI investment and the dollar. It's remarkable to see NZD as the top performer on a day while US major indexes were down 1-2% and it highlights the upending of the old paradigm. </p><p>The weekly decline in the Nasdaq 100 was the largest since April 2025.</p><p>The week ahead features a pickup in earnings releases, including Meta and Tesla. Have a great weekend.</p><p></p> This article was written by Adam Button at investinglive.com.