Finance

Technology and memory chip stocks dragged on the Nasdaq following major drops in Asian markets, specifically South Korea's Kospi index, which slumped 5.5%. Sentiment deteriorated rapidly after Chinese manufacturer CXMT revealed aggressive plans to launch a highly competitive new semiconductor by the end of the year. This development catalyzed an industry-wide sell-off that drove Micron down 3.6% and triggered a 3% decline in the Roundhill Memory ETF.

Crude oil benchmarks finished mixed after a highly volatile trading session that balanced significant geopolitical risks against new fuel supply deals. Prices experienced early downward pressure following announcements from the Trump administration regarding an agreement to allow Russian diesel supplies back into global markets to alleviate fuel shortage anxieties. However, ongoing threats and missile attacks targeting Saudi Arabian energy infrastructure by Houthi rebels kept a substantial risk premium intact, keeping Brent crude hovering above $105 a barrel.

The cryptocurrency market remained under pressure as Bitcoin slid down to trade around the $82,000 to $83,000 range. Despite a softer-than-expected September jobs report that led futures traders to lower expectations of further Federal Reserve interest rate hikes this year, digital assets have failed to find strong upward traction this month. Macroeconomic factors, such as tariff anxieties and tapering inflows into exchange-traded funds, continue to overshadow historical patterns that typically favor crypto performance in October.