• US stocks fell: the S&P 500 lost 1.21% to 7,663.43, its biggest drop since late July, and the Nasdaq 100 2.90%. The Dow ended flat (+0.02%) and the Russell 2000 edged up 0.11% as investors rotated into staples and utilities.
• Meta fell 5-8% on its higher capex outlook and settlement charge, and Tesla slid after weaker Q3 results and lower spending plans. Lam Research (-11.76%), Coherent, Lumentum and Teradyne led chip losses, and Moderna plunged 17.57%.
• Europe slid: the Euro Stoxx 50 fell 1.94%, the CAC 40 1.39% and the DAX 1.07%. Nokia (-9.72%), Siemens Energy and Infineon led losses, Hermes fell on weak Asia-Pacific sales, and miners dropped as metals fell.
• Asia's selloff deepened on Thursday: the Nikkei fell 2.65%, the KOSPI about 3% and the Hang Seng 3.03%. The Nikkei is down a further 1.85% and the KOSPI 2.01% in early trade today.
• Gold fell sharply on inflation worries from higher oil and is at $4,011.33 this morning. Weekly jobless claims unexpectedly fell, and the Fed is expected to hold rates at next week's meeting.

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