US close Oct 15: Dow +556 (+1.3%), S&P +0.8%, Nasdaq barely green. Philadelphia SOX fell for a seventh straight session, longest losing streak since October 2022. CoreWeave erased a 15% intraday loss. 10-year Treasury yields shed 10-plus basis points — best single-day move in 14 months.
1
Why semis have dropped seven days straight
ASML flagged Oct 14 that EUV delivery lead times stretch to 18 months through 2027. Commerce Department simultaneously tightened chip export licenses to China. Intel-Qualcomm merger speculation faded. SOX is down 8.3% this week.
2
CoreWeave's dramatic intraday reversal
CoreWeave fell 15% intraday to $38.20 per share, a post-IPO low. Nvidia CEO Jensen Huang, at an industry conference, said GPU rental financing costs are 'continuing to fall.' Shares recovered to close up 2.1%.
3
Behind the bond rally: oil-price transmission
Brent hit $104 per barrel overnight after Houthi missiles struck Aramco. Markets initially repriced rate-cut expectations higher. When oil retreated during the session, rate-cut hopes recovered — driving the 10-year from 4.73% to 4.62%.
Semis down 8% this week are bleeding into broader tech. If the bond rally can't hold, risk sentiment may flip fast.
Key FAQ
Q1: Why has the SOX fallen seven straight sessions?
ASML flagged 18-month EUV delays, Commerce tightened chip export licenses, and Intel-Qualcomm merger hopes faded — SOX down 8.3% this week.
Q2: What reversed CoreWeave from -15% to closing up?
Jensen Huang said GPU financing costs are 'continuing to fall' at an industry conference — triggering a short-squeeze that flipped CoreWeave to close up 2.1%.
Q3: Why did the 10-year Treasury yield drop 10-plus basis points in one day?
Oil retreated intraday from $104, restoring rate-cut expectations. The 10-year fell from 4.73% to 4.62% — best single-day move in 14 months.
Sources
- ✓ Reuters — US stocks close: Dow gains 556 points, SOX extends losing streak — 2026-10-15
- ✓ ASML — Investor Day: EUV delivery schedule update — 2026-10-14
- ✓ Bloomberg — CoreWeave recovers from intraday plunge after Huang comments — 2026-10-15
#CoreWeave