☕️ [Task Coins Giveaway] Daily Market Talk — Chip Stocks Crash 12%

The Democratic sweep turned into an AI selloff. The chip index lost 12%, its worst day since March 2020, and the Nasdaq 100 fell 6.4%. STI opened about 2.7% lower this morning, with DBS and OCBC results to digest. Let's dig in 👇

💬 Is this the AI trade's reset or a buying window?

📊 Quick Recap — What Moved & Why

🇺🇸 US — The Blue Wave Hits the Data Center Trade

🔑 Key Event: Investors now see the new Congress and key states as a brake on AI buildout, with Texas's incoming governor calling for a pause on new data centers. S&P 500 -4.36%, Nasdaq -5.52%, Dow -3.44%; VIX jumped to 28.

@Shyon: I would not rush to declare the semiconductor selloff over just yet. The recent rebound could still be a relief rally.

👀 Other to Watch

• $NVIDIA(NVDA.US) -9.3% → over US$447B wiped out, now about 24% below its Oct 6 close.
• $Sandisk(SNDK.US) -22%, $Micron Tech(MU.US) -17%, $AMD(AMD.US) -17%, $Tesla(TSLA.US) -10.8% → the AI-heavy names took the worst of it.
• $Coreweave(CRWV.US), $Nebius(NBIS.US), $IREN(IREN.US) → down 15% to 17%; hyperscalers with permitted sites fell only 2% to 4%.
• $AppLovin(APP.US) +31% on its Q3 beat; $CloudFlare(NET.US) +15% and $Airbnb(ABNB.US) +11% after hours on theirs.
• Also → Fed's Hammack and Barkin back gradual hikes; Nvidia pitches up to 30x agent throughput per dollar on just 3% more HBM; OpenAI could be IPO-ready in 2027.

🇸🇬 Singapore — Bank Results Land Into a Red Open

🔑 Key Event: OCBC's Q3 profit rose 3% to S$2.04B, a slight beat. DBS fell 5% to S$2.81B, missing the S$2.95B estimate as trading income sank 65%, though management says interest income has passed the trough.

@FaithAnchor: If earnings disappointments trigger a sector-wide pullback, DBS could be best positioned to lead the recovery.

@ShortWalk: I think SG market will dip further as the Banks dips after Q3 earnings.

👀 Other to Watch

• $DBS(D05.SG) → Anthony Lim takes over as chairman from Peter Seah on Jan 1, 2027; Q3 payout holds at 81 cents.
• $IHH(Q0F.SG) → close to 400 support staff across SG, HK and Malaysia to leave.
• $Wilmar(F34.SG) → director George Yeo bought 100,000 shares at S$2.97, about a quarter below the August high.
• Retail sales → September +1.7% year on year.

🇭🇰 HK/China — Asia Catches the Chip Fever

🔑 Key Event: Asia is following Wall Street down: KOSPI hit a circuit breaker and the Nikkei opened over 6% lower. In Hong Kong, Hang Seng Tech leads losses with Lenovo down about 9% and YOFC about 13%, even though China ADRs closed higher overnight.

🌍 Other to Watch

• 🪙 Gold up about 1%, on track for a weekly gain near 6%; 🛢️ Brent bounced 3% to 4% after a near 20% slide this week.
• ₿ Bitcoin-6% below US$76,000.

📅 Upcoming Key Events

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🚫 No duplicates · ⏰ Deadline: Nov 6, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏