The Fed held in a 10-2 vote. Governor Cook and Cleveland Fed President Hammack called for a 25bp hike. The statement upgraded its description of economic activity to "strong." Former Richmond Fed President Lacker said holding rates when inflation had stayed at 3-3.5% for so long showed a lack of urgency. The market reads the hold not as a pause but as a final waiting period before a December hike.

President Lagarde did not rule out a December hike. Eurozone inflation of 3.8% is a burden.

The BOJ held in an 8-1 vote, with board member Takata dissenting in favor of a hike to 1.5%. It raised its next-year inflation forecast from 2.4% to 2.6%, and Governor Ueda hinted at the possibility of a December hike.

Reports said the bank kept its base rate at 3.00%.

The Dow closed at 51,770.31 (-1.09%), the S&P 500 at 7,580.07 (-1.82%) and the Nasdaq at 25,437.00 (-2.86%). The semiconductor index fell 7.2%, with Nvidia -4.2%, AMD -10.9% and Dell -10.8%. The S&P 500 and Nasdaq declined for October, while the Dow rose.

Q4 revenue guidance of $15-16 billion fell short of the $17 billion expected. Rising memory prices weighed on PC demand, and the stock closed at $65.82, down about 28.5% on the day. Q3 itself beat expectations, with revenue of $16.5 billion and earnings per share of $0.52.

Quarterly capex was $51.36 billion (+114%) and free cash flow was about -$9.1 billion. The company kept its 2026 capex guidance of $195-205 billion and said it will increase spending significantly in 2027. About $500 billion in market cap was erased. Microsoft beat expectations with 48% Azure growth and cut its annual capex outlook from $175 billion to $170 billion.

Revenue of $201.9 billion (+12%) and diluted EPS of $1.89 fell short of expectations ($202.2 billion and $1.97). AWS grew +39% ($46 billion), accelerating from 37% in Q2, and the company projected 40%+ growth in 2027-28. The regular-session close was $243.79 (-4.25%).

The vote was 10-2. Futures markets price about an 85% probability of a hike on December 9. September CPI is 3.7%, core CPI is 2.6%, and September payrolls rose only 29,000.

GDP grew 3.4% annualized (expected 3.1%), with consumption +3.8% and business investment +12.7%. PCE rose 3.6% year over year (prior month 3.4%), with core at 3.1%. The 10-year yield is near 4.93%.

Eurozone inflation hit 3.8% on energy, the highest since September 2023. President Lagarde did not rule out a December hike, and the market sees a probability of about 67%. The next meeting is December 17.

The vote was 8-1, with board member Takata calling for 1.5%. The BOJ raised its next-year inflation forecast from 2.4% to 2.6% and, for the first time, judged underlying inflation as broadly consistent with its 2% target. The Nikkei fell -2.12% (63,290.11) and USD/JPY was at 157.80.

December Brent settled at about $117.64 and WTI at about $104.12 (per CNBC). Brent rose about 13.6% in October, its fourth straight monthly gain. Iran's Revolutionary Guards claimed a large tanker hit a mine and burned, while US Central Command countered that the main shipping lane remains open. Trump said the conflict will end soon, but the possibility of further US strikes after the midterms is being discussed.

The KOSPI fell 206.92 points to close at 5,730.74. The intraday low was 5,599.42 (about -5.8%), and a sell-side sidecar was triggered around 10 a.m. Trading value was about 19.27 trillion won, with 107 advancers against 248 decliners. The KOSDAQ fell -3.83% (724.38).

Revenue topped 100 trillion won for the first time at 104.6 trillion won, with operating profit of 83.3 trillion won. Shareholder returns for fiscal 2026 are about 100 trillion won (more than 30 trillion won in cash dividends and more than 60 trillion won in buybacks). Yet the stock closed at 1,418,000 won on October 30 (-7.08%), with an intraday drop of more than 9%.

Following a 4% drop on October 29, it closed at 225,000 won (-3.02%) on October 30. Disappointment grew because details of the 90-110 trillion won return program announced in August will not be decided until January next year.

The reason for Kia's sharp drop is unconfirmed, and the figure comes from a single source. Samsung Biologics rose +8.86% (Asia Economy reported +5.78%), Hanmi Pharmaceutical +6.82%, and the pharmaceutical sector +4.9%. Precision medical equipment (-7.13%), construction (-6.22%) and electrical/electronics (-4.67%) were the biggest decliners by sector.

The won strengthened 2.5 won day over day on exporters' dollar selling and stabilization efforts by currency authorities. If foreign outflows grow, a move toward 1,350 is being discussed.

Reports described the decision as moderating the pace of tightening amid inflation and housing price concerns. The next Monetary Policy Board meeting is November 26.

Imports were $22.3 billion (+65.5%), for a trade surplus of $3.8 billion. This is the highest export level on record for October, and semiconductor exports were also a record. September exports were $120.9 billion (+83.5%).

Q4 guidance is revenue of $15-16 billion (expected about $17 billion) and EPS of about $0.25 (expected $0.43). The close of $65.82 (-28.51%) marks the worst day since 1974. The market prices next-quarter demand, not current results. Estimates also circulated of about $1 trillion in semiconductor market cap wiped out.

Amazon and Alphabet (the spenders) and Intel, Nvidia and AMD (the beneficiaries) fell together on the same day. This looks more like a revaluation of AI as a whole than company-specific catalysts. In the same thread, however, a counterargument appeared that "Intel and Amazon are still up for the year."

$RDDT fell -29-30% after earnings, with some reports calling it the worst one-day drop. Mandatory logins and falling search traffic fed worries about a decline in DAUq. Testimony emerged that liquidation pressure (forced selling) worsened the losses.

Losses are about $6.3 billion, of which about $3 billion (mainly stablecoins) was frozen. An analysis was also shared that the attacker sold USDT to market makers and borrowed ETH against collateral on Aave to evade freezes. The view that North Korea was responsible predominates.

On dip-buying strategy, regular index accumulation prevailed over buying individual stocks on weakness. The point made is that if earnings estimates fell along with the price, the stock hasn't become cheaper.

The summary says Intel closed at $65.82 (previous $92.07), with strong Q3 results, weak Q4 guidance and the shutdown of its Israel Fab 28 coinciding.

The debate centers on Amazon keeping $220 billion in capex and worsening cash flow.

Opinion split between skepticism ("no moat, a WeWork repeat") and the rebuttal that "Anthropic and OpenAI have a clear edge over second-tier models." A working developer wrote that they already use it on the job.

"not your keys, not your coins" resurfaced. Combined with hardware wallet incidents (Coldcard, Ledger), the focus is on damaged consumer trust. The North Korea explanation predominates, though an "insider" counterargument also exists.

A holder going into earnings lost about $5 million in a single day. The earnings thread was dominated by self-deprecation such as "Puts on everything" and "Cooked."

He warned that this week's turmoil may be over but next week could bring more volatility and emotion. He noted the Nasdaq is down more than 9% from its October 6 high and that October was the worst month since 2025. He named Tuesday's midterm elections, Wednesday's Iran-related decision and Friday's nonfarm payrolls as next week's events. For diversification, he mentioned energy and consumer staples, which were strong in October. On Intel, he admitted his own mistake in missing the possible weakening of the PC market and stopped buying. He maintained a buy view on Amazon, citing operating income of $28.1 billion and the AWS growth outlook.

They discussed Amazon on a day when the tech sector fell about 2.5%. AWS posted its fastest growth in five years (+39%) but fell short of the informal expectation of about 40%, and free cash flow is negative. Citing AWS operating margin of 13.9% and a backlog rising from $49.7 billion to $57.8 billion, they leaned toward buying on a decline. They said the drop narrowed from -7% premarket to about -2%.

He saw the Nasdaq about 9% off its high, in correction territory but the weakest form of correction. The S&P is down only about 2%, and the Russell Value and S&P Value indexes are near record highs. Because uncertainty over AI is large on both the upside and the downside, he recommended diversifying into non-AI stocks and bonds. The host countered that 60% of S&P 500 stocks are down more than 20% from their highs, making the market's internals weak.

Two members dissented in favor of a hike at Wednesday's FOMC. He judged holding rates despite inflation staying at 3-3.5% for so long as a lack of urgency.

The outflow began from hot wallets around 20:00 UTC on October 29. About $6 billion in total left across multiple chains, four times the previous record, Bybit (about $1.5 billion). $1.6 billion in Tether and more than $800 million in Circle were frozen, tying up 40-50% of the total. Binance pledged full reimbursement from its SAFU fund and its own funds, equal to about 4% of its roughly $160 billion in assets under custody. TRM Labs, Elliptic and Chainalysis pointed to the North Korean Lazarus group (Binance has not confirmed). Scott Melker of Daily Wolf judged a 4-5% Bitcoin decline on a day combining a tech selloff and the hack as quite good.

Mortgage rates fell for a second straight week but remain above 7%. Treasuries are again seen as a safe haven, and foreign buying has increased. With inflation not easing, rates are expected to stay at this level for the time being.

Analyst Jung Ji-woo said volatility is the highest in his 15 years on air, yet expected the KOSDAQ to bottom this week and recommended buying the dip in installments. The Gangnam Big Hands episode pointed to the security, optical communications and robotics sectors that held up while semiconductors fell, and suggested Samsung SDI (ESS demand) and Hanwha Vision as candidates for staged buying. The Yeouido investment panel said Korean stocks have not been recognized as a store of value since the July plunge and preferred US tech stocks. All three episodes read heavily as individual stock recommendations and contain many subtitle mistranslations, so the stocks and figures are hard to use as a basis for investment decisions.