Tech market sell-off deepens on inflation, AI debt fears
The gist
A hot US inflation print and AI debt worries sent global tech shares sharply lower.
Korea's chip-heavy market is absorbing the worst of the AI buildout's financing strain.
How it unfolded
- Oct 14, 2026September CPI came in hotter than expected, with the annual rate at 3.7% versus 3.4% prior and core up 0.3% for the month against 0.2% expected. The S&P 500 fell 1.1%, ending a 54-session streak without such a drop, while the Nasdaq and Russell 2000 each lost 1.9%.
- Oct 14, 2026The PHLX Semiconductor Index sank 4.3%, extending a six-day slide to 11.6%. CoreWeave plunged more than 15% as its bonds fell to distressed levels, Oracle lost almost 9%, and Bank of America fell 4.7% after missing estimates.
- Oct 15, 2026Nasdaq futures were down 1.1% early, with CoreWeave off another 6% premarket and Oracle down over 2%. South Korea's Kospi finished 7.6% lower on sharp drops in SK Hynix and Samsung Electronics, triggering a circuit breaker.