Tech-Led Selloff Drags Nasdaq Down 2.5% as Geopolitical Tensions Fuel Oil Rally
MarketsFN Team
U.S. equities slumped Friday as the Nasdaq 100 plunged 2.50% to 29,187.55, dragging the broader market lower amid rising geopolitical risks and position-squaring ahead of earnings season. Brent crude surged 3.47% to $109.60 after Iran escalated attacks near the Strait of Hormuz.
🇺🇸 US Session Overview
Technology shares led the retreat with the S&P 500 falling 1.09% to 7,659.44 as traders reduced exposure ahead of next week's earnings deluge. The Dow Jones showed relative resilience, declining just 0.34% to 52,002.41, while small caps took a beating with the Russell 2000 dropping 1.66%. Market breadth was decisively negative with decliners outpacing advancers by nearly 3-to-1 on the NYSE. The VIX volatility index spiked 12% intraday before paring gains, reflecting heightened risk aversion.📅 Economic Calendar Highlights
Eurozone inflation data met expectations with September CPI at 3.8% YoY, while the bloc's trade balance swung to a €16.1 billion deficit in August. U.S. industrial production surprised to the upside at 0.7% MoM, and import/export prices both exceeded forecasts. The Treasury International Capital report showed $279.2 billion in net long-term transactions, far above estimates. CFTC data revealed speculators increased bearish bets on the Nasdaq 100 while trimming net shorts in the S&P 500.💱 FX & Commodities
The dollar was mixed as the EUR/USD gained 0.41% to 1.1241 and GBP/USD jumped 0.75%, while the USD/CHF tumbled 0.96%. Safe-haven flows lifted gold 0.43% to $4,187.90 and silver rose 0.54%. Energy markets remained volatile with WTI crude up 0.92% at $98.87 and natural gas sliding 3.62%. Cryptocurrencies extended losses with Bitcoin down 0.72% at $81,546.53.Markets will focus Sunday night on Asia's reaction to escalating Middle East tensions and China's economic data releases. Next week brings earnings from Tesla, Netflix, and major banks, with traders watching whether strong results can overcome the current risk-off sentiment.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,659.44 | ▼ -84.62 | ▼ -1.09% |
| Nasdaq 100 | 29,187.55 | ▼ -748.05 | ▼ -2.50% |
| Dow Jones | 52,002.41 | ▼ -175.28 | ▼ -0.34% |
| Russell 2000 | 2,721.37 | ▼ -45.90 | ▼ -1.66% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1241 | ▲ +0.41% |
| GBP/USD | 1.333 | ▲ +0.75% |
| USD/JPY | 157.97 | ▲ +0.01% |
| AUD/USD | 0.6947 | ▼ -0.44% |
| USD/CHF | 0.8237 | ▼ -0.96% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,187.90 | ▲ +0.43% |
| Silver (XAG/USD) | 57.15 | ▲ +0.54% |
| Crude Oil (WTI) | 98.87 | ▲ +0.92% |
| Brent Oil | 109.60 | ▲ +3.47% |
| Natural Gas | 3.12 | ▼ -3.62% |
| Bitcoin | 81,546.53 | ▼ -0.72% |
| Ethereum | 2,410.87 | ▼ -1.21% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 09:00 | EUR | CPI (YoY) (Sep) | 🔴🔴🔴 | 3.8% | 3.8% | 3.2% |
| 04:00 | MYR | GDP (YoY) (Q3) | 🟡🟡 | 5.3% | 6.0% | |
| 09:00 | EUR | Core CPI (YoY) (Sep) | 🟡🟡 | 2.5% | 2.5% | 2.4% |
| 09:00 | EUR | CPI (MoM) (Sep) | 🟡🟡 | 0.6% | 0.6% | 0.4% |
| 09:00 | EUR | Trade Balance (Aug) | 🟡🟡 | -16.1B | 10.7B | |
| 12:15 | CAD | Housing Starts (Sep) | 🟡🟡 | 248.9K | 234.0K | 242.2K |
| 12:30 | USD | Export Price Index (MoM) (Sep) | 🟡🟡 | 2.2% | 1.0% | 1.2% |
| 12:30 | USD | Import Price Index (MoM) (Sep) | 🟡🟡 | 1.1% | 0.9% | 0.5% |
| 12:30 | CAD | Foreign Securities Purchases (Aug) | 🟡🟡 | -17.31B | 23.59B | 20.64B |
| 13:15 | USD | Industrial Production (MoM) (Sep) | 🟡🟡 | 0.7% | 0.4% | 0.1% |
| 13:15 | USD | Industrial Production (YoY) (Sep) | 🟡🟡 | 2.25% | 1.62% | |
| 17:00 | USD | U.S. Baker Hughes Oil Rig Count | 🟡🟡 | 459 | 462 | |
| 17:00 | USD | U.S. Baker Hughes Total Rig Count | 🟡🟡 | 603 | 603 | |
| 19:00 | USD | Federal Budget Balance (Sep) | 🟡🟡 | -27.0B | -34.7B | -167.0B |
| 19:30 | GBP | CFTC GBP speculative net positions | 🟡🟡 | -107.0K | -97.6K | |
| 19:30 | USD | CFTC Crude Oil speculative net positions | 🟡🟡 | 100.3K | 99.1K | |
| 19:30 | USD | CFTC Gold speculative net positions | 🟡🟡 | 207.9K | 210.3K | |
| 19:30 | USD | CFTC Nasdaq 100 speculative net positions | 🟡🟡 | 48.5K | 58.1K | |
| 19:30 | USD | CFTC S&P 500 speculative net positions | 🟡🟡 | -141.0K | -154.1K | |
| 19:30 | AUD | CFTC AUD speculative net positions | 🟡🟡 | -117.3K | -98.6K | |
| 19:30 | BRL | CFTC BRL speculative net positions | 🟡🟡 | 46.7K | 52.3K | |
| 19:30 | JPY | CFTC JPY speculative net positions | 🟡🟡 | 50.2K | 62.3K | |
| 19:30 | EUR | CFTC EUR speculative net positions | 🟡🟡 | -137.6K | -99.3K | |
| 20:00 | USD | TIC Net Long-Term Transactions (Aug) | 🟡🟡 | 279.2B | 75.2B | -27.9B |
| 03:30 | USD | Fed Chair Warsh Speaks | 🔴🔴🔴 | — | ||
| 02:00 | GBP | BoE Gov Bailey Speaks | 🟡🟡 | — | ||
| 02:30 | EUR | German Buba President Nagel Speaks | 🟡🟡 | — | ||
| 04:15 | CAD | BoC Gov Macklem Speaks | 🟡🟡 | — |
Report published: October 16, 2026 — 22:21 CET
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