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US Markets Morning Update - 2026-10-13

October 13, 2026
US Markets Morning Update - 2026-10-13
Markets
Chip stocks led a tech selloff with Nasdaq futures falling and South Korea's KOSPI plunging over 7%, as global investors hold their biggest tech exposure since the post-Covid rebound.

Good morning NYC. Key highlights for 2026-10-13:

  • Chip stocks led a tech selloff with Nasdaq futures falling and South Korea's KOSPI plunging over 7%, as global investors hold their biggest tech exposure since the post-Covid rebound.
  • Meta released its "Muse Wonder" AI model, which CEO Mark Zuckerberg claims puts the company on par with Anthropic and OpenAI, marking a key test of its multibillion-dollar AI investment.
  • LVMH's largest division reported slumping Q3 sales as economic conditions and Chinese consumer backlash against Louis Vuitton hit the luxury giant, signaling broader industry weakness.
  • Major US banks and asset managers are set to report earnings this week, with investors watching how they navigated market volatility; UnitedHealth beat expectations and raised guidance while Visa won approval for China payments business.
  • Tencent launched a 5BinternationalbondsaletofundAIcapitalexpenditures,whileAmazonisintalkstoacquireAIstartupDecartAIfor5B international bond sale to fund AI capital expenditures, while Amazon is in talks to acquire AI startup Decart AI for 7B and Starbucks denied reports of a potential Chipotle takeover.

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