Markets are experiencing a flight to quality with renewed pressure on AI stocks after wholesale producer prices came in well above expectations, signaling persistent inflation. South Korea’s Kospi index fell over 7% with SK Hynix down 6% in U.S. premarket trading, CoreWeave shares dropping 19% over two sessions and the company’s bonds under significant stress. Anthropic reported a 45% sequential revenue increase in the third quarter to $16.8 billion, though growth has slowed from the 146% sequential gain recorded between the first and second quarters. On the earnings front, Bank of New York beat third-quarter estimates with shares up nearly 2% premarket, while UBS upgraded Microsoft’s price target to $675 from $525.
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