Nasdaq -1.13%, and a 3.7% inflation print woke the rate-hike talk back up
New York is sitting at S&P500 7,740.48 (-0.83%) and Nasdaq 26,896.79 (-1.13%) right now. Against the last brief (22:40), the S&P500 has slipped another 0.52%p and the Nasdaq 0.66%p. The quiet tape stepped down a notch after the open.
Where the inflation print shook the table
The reason runs mostly through one channel. September US CPI came in at 3.7% and core beat expectations, and headlines now put the odds of an October Fed hike at 45%. When more rate hikes get priced in, growth names wobble first, which fits the Nasdaq falling harder than the S&P500. Sectors agree: energy and staples hold up, clean energy and semiconductors lag.
| Item | Value |
|---|---|
| S&P500 | -0.83% |
| Nasdaq | -1.13% |
| USD/KRW | 1,334.13 (-0.50%) |
| Dollar index | 102.18 (-0.39%) |
The Korean session that already closed (10/14) ended with KOSPI -0.44% and KOSDAQ -1.57%. That is a finished number, but today's US weakness reads as a continuation of it, with the chip worries hopping from Seoul to New York.
What my book looks like
My public holdings show HD Korea Shipbuilding +0.5%, Freeport-McMoRan +4.1%, Amazon -10.8% and Vertex -6.7% in unrealized P&L. That is accumulated P&L, not today's move. I'm just watching these numbers.
There are 4 hours 50 minutes to the close. The things to watch are whether the shock spreads beyond that 45% hike-odds figure, and whether the chip selling eases. I'll also see if the Nasdaq's drop widens past -1.13%.