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Last updated: November 6, 2026, 5:00 AM ET
Global Selloff and AI Rout
A broad global selloff intensified across markets as Asian stocks swooned wsj.com and the Dow faced another bruising session. The rout was driven largely by fears over artificial intelligence, with Asian markets battered ft.com after the Wall Street AI selloff. Japan's Nikkei bloomberg.com slumped below 60,000 and moved toward a bear market, while Korean stocks tumbled bloomberg.com toward the 5,000 mark. Japan's Nikkei wsj.com fell 5.9% in early trade, dragged by chip stocks. Taiwan's currency bloomberg.com weakened past 33 per US dollar on AI jitters.
On Wall Street, the Nasdaq wsj.com closed in correction territory after the worst single-day stretch of the year, with the Nasdaq 100 tumbling 6.4% ft.com and roughly $3.2tn wiped from US equities. The S&P 500 nytimes.com posted its worst daily decline since April 2025, erasing the post-midterm rally. Tech stocks plunged bloomberg.com the most since 2020, erasing a record $2.3 trillion in value. Equity volatility jumped bloomberg.com to its largest level since the April 2025 tariff turmoil, and the worst US stock rout since 2020 bloomberg.com left few places to hide.
Haven Assets and Rates
Safe-haven demand lifted government debt. Treasuries soared bloomberg.com as the tech selloff stoked haven buying, and Japanese bonds rallied bloomberg.com alongside Treasuries. The yen regained bloomberg.com its haven appeal as investors sought safety. Gold rose wsj.com in early Asian trade and was on track for its biggest weekly gain since August bloomberg.com. China's 10-year yield bloomberg.com hit a record intraday low on haven demand.
The Bank of England raised rates to 4% ft.com, its first increase in more than three years, in a bid to tame inflation. Fed officials bloomberg.com signaled that restrictive rates remain necessary to bring prices to target. Canada's central bank bloomberg.com renewed its framework to focus narrowly on the 2% inflation target. The ECB's Zigman bloomberg.com saw a "rather big chance" of a December hike.
Energy and Commodities
Brent crude wsj.com climbed above $100 a barrel on Middle East supply risks, though oil prices wsj.com later pulled back as traders weighed Iran diplomacy. Brent bloomberg.com was set for its biggest weekly loss since 2020 on war hopes. Qantas wsj.com expects a $2.63 billion first-half fuel bill and has hiked fares bloomberg.com while deepening domestic cuts. Copper bloomberg.com slumped to its lowest since July. Toyota wsj.com lifted its earnings forecast, with its stock posting the biggest gain in 39 years. Qatar is in talks bloomberg.com to buy more US LNG to diversify supply outside the Gulf.
Corporate Earnings
ConocoPhillips wsj.com posted a third-quarter profit of about $4 billion on higher oil prices. Cigna bloomberg.com beat estimates and raised its outlook. Airbnb wsj.com lifted its revenue outlook, and Cloudflare wsj.com raised its full-year projections. DraftKings bloomberg.com plunged after a 2027 forecast missed estimates. Molson Coors wsj.com cut its guidance on soft beer demand, and Papa John's wsj.com cut its outlook again. Mattel wsj.com trimmed its full-year outlook before the holiday season. Lyft bloomberg.com posted a surprise loss on a settlement. Carlyle shares bloomberg.com slumped on a bigger-than-expected drop in fees. Macquarie wsj.com beat expectations with a 50% jump in first-half profit. Six Flags wsj.com narrowed its loss, and Dropbox wsj.com reported ticking-up revenue.
Hedge Funds and Asset Managers
Hedge funds wsj.com unwound positions last month at the fastest pace in over a decade as the selloff deepened. Samlyn bloomberg.com dumped all stocks except financials and cut staff, while Walleye ft.com handed back capital as it slimmed its equity business. Wall Street trading desks bloomberg.com were wrong-footed after bullish equity calls, and Goldman's trading desk bloomberg.com was flooded with calls. Blackstone ft.com doubled lock-up periods for some Asian investors. Goldman Sachs ft.com elevated a record number of engineers to partner.
Politics and Policy Risk
The Democratic midterm sweep is reshaping the market outlook. Elizabeth Warren wsj.com is expected to head the Senate Banking Committee. Newly elected officials ft.com have pledged to curb data centre construction, while US lawmakers ft.com summoned Jensen Huang over spying concerns. Trump-backed critical minerals deals bloomberg.com face growing pressure. Renewable energy stocks ft.com surged on the clarity of the results. Wall Street ft.com is betting the sweep will empower moderates. Mega-donors ft.com on Wall Street were clobbered, and Trump's arch nytimes.com won commission approval despite court challenges.
Deals and Industry
Monzo ft.com is exploring fundraising at a £7.5bn valuation after private equity talks stalled. Zipline wsj.com reached a $21.5 billion valuation. Anthropic's IPO wsj.com faces skepticism about a $1.5 trillion valuation goal. China blocked SoftBank's ft.com $5.4 billion robotics deal. The New York Times nytimes.com is in advanced talks to acquire Letterboxd for roughly $330 million. Japan Tobacco's bloomberg.com Russia assets were seized by Moscow. The German government ft.com is close to buying half of tank maker KNDS.
Coming Up
The Bank of England's rate decision has already landed, and Wall Street's next move ft.com will depend on whether the AI selloff stabilizes. Anthropic's October results wsj.com could lessen the blow of the market rout, according to some investors.
Private Equity
Last updated: November 6, 2026, 5:00 AM ET
Startups & Venture Capital
Onstage's W26 cohort has produced a list of the most in-demand startups sifted.eu among investors and acquirers. Former Secret Service agent Stephen Ward is preparing a second $250M cybersecurity fund techcrunch.com, drawing on his background as Home Depot's former CISO. Meanwhile, the mental health startup Siggy raised $6 million news.crunchbase.com in pre-seed funding, backed by the co-founders of Nurx and Journey Clinical.
Hardware & Supply Chains
European hardware founders are racing to reduce reliance on China sifted.eu for components and manufacturing, a shift that is reshaping how young companies plan their supply chains.
Buyouts & Acquisitions
Permira has agreed to acquire a majority stake in Flint Group from General Atlantic, as the home services roll-up nearly tripled in size peinsights.substack.com. Dropbox, in turn, plans to buy Tigris Data for $350 million, its largest acquisition to date news.crunchbase.com, to bolster its AI infrastructure. Levine Leichtman Capital Partners has also made a growth investment peinsights.substack.com in Concentric Energy Advisors, betting on the boom in grid investment.
Asset Managers & Earnings
Carlyle lifted distributable earnings peinsights.substack.com 17% on the strength of exits, even as its fee earnings declined.
Robotics & Construction Tech
Funding for construction robotics has surged to about $1.6 billion news.crunchbase.com so far in 2026, roughly triple the previous peak, signaling strong investor appetite for automation in the built environment.
Sector Investment
Last updated: November 5, 2026, 5:40 PM ET
Real Estate Investment
Canada's La Caisse is backing special situations perenews.com as part of a real estate revamp, with its property chief describing a new team focused on out-of-the-box opportunities. Meanwhile, GIC is preparing its first US office equity deal perenews.com in two years, according to its Americas head speaking at PERE's America Forum.
Infrastructure Fundraising
Fundraising in the infrastructure sector is picking up pace infrastructureinvestor.com, with some recent fund closes taking substantially less time than the typical two-plus years.
Clean Energy Policy
Australia's Clean Energy Finance Corporation will prioritise wind and transport infrastructureinvestor.com investment rather than data centres, according to new chief executive Paul McCartney.
Coming Up
GIC's first US office equity deal perenews.com is expected within the coming period, according to its Americas head.