News
Tech rout hits markets, Musk’s political spending and SpaceX gains highlighted
Nasdaq falls 2.6% amid AI spending doubts; SK Hynix shares rise 2.6% after canceling U.S. listing of Solidigm; President Trump urges Elon Musk to restore Starlink access in Ukraine; SpaceX records a $561 million unrealized gain on Boring Co. stake, boosting Q3 net income to $4.4 billion; Musk contributes about $366 million to the U.S. election cycle, becoming the largest donor; Nvidia CEO Jensen Huang says neocloud demand is “off the charts” but capital scarcity persists; Chinese wealthy shift offshore funds to U.S. banks ahead of an Oct 22 tax deadline; Japan’s core inflation hits 2.1% in September, prompting expectations of a BOJ rate hold; AI‑related credit spreads widen for CoreWeave, Oracle, SoftBank and European sovereigns, signaling financing stress.