Asian stocks rebounded, with South Korea’s KOSPI rising 4.5%, while Bitcoin traded around $74,600 ahead of the release of the US Consumer Price Index. Economists expect headline inflation to rise 0.3% month over month, compared with 0.6% in September, and core inflation to increase 0.2%. Markets now assign an 84% to 85% probability to a Federal Reserve rate hike in December, with the benchmark rate currently at 3.75% to 4%. Hotter-than-expected inflation could pressure Asian technology stocks and Bitcoin, while a cooler reading could support the rebound. NVIDIA’s 4.3% share decline, which erased $190 billion in market value, adds another source of vulnerability for semiconductor and artificial-intelligence-related stocks.
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