Global markets experienced a sharp sell-off, with S&P 500 futures down 1.02%, Nasdaq futures down 1.82%, the Stoxx 600 down 0.92%, South Korea’s KOSPI down 3.52%, Japan’s Nikkei 225 down 2.65%, and India’s Nifty 50 down 0.82%. Brent crude reached $112 per barrel, driven by Houthi drone strikes on Saudi facilities, threats to shipping in the Strait of Hormuz, and reports that the United States and Israel may restart major military operations against Iran after the midterm elections. China’s CSI 300 fell 1.84%, bringing its year-to-date decline to 15%, while the yield on France’s 10-year government bonds reached 5.1%, its highest level since 2002. Tesla fell 5.35% in after-hours trading after cutting its 2026 capital-expenditure guidance from $25 billion to $20 billion, raising questions about the pace of its transition toward artificial intelligence and robotics. SpaceX shares rose 8% after the company forecast first-quarter 2027 revenue of $33 billion to $37 billion and projected annual revenue of $500 billion to $1 trillion by the end of 2027, while Morgan Stanley estimated that artificial-intelligence investment could reach $1.6 trillion in 2027.
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