Meta's Net Income Soars 264% to $9.9 Billion Amid Global Market Turmoil

Key Takeaways

• <ul><li>AI stocks led a sharp global selloff, with the S&P 500 falling up to 1.4% and the Nasdaq dropping as much as 2.8% this week.</li><li>Nvidia fell 4.3% repeatedly, Lam Research tumbled over 11%, and CoreWeave lost up to 11% due to debt concerns.</li><li>Brent crude rose past $112 a barrel, driven by attacks on Saudi infrastructure and U.S.-Iran tensions.</li><li>Meta's net income jumped 264% to $9.9 billion, while Tesla's fell 43% to $787 million, though both saw mixed stock reactions.</li><li>SpaceX reported strong summer profits, lifting shares 7.2% and raising speculation about a Tesla merger.</li><li>Yardeni Research's AI Bubble Meter, powered by Anthropic's Claude, shows high bubble traits but low triggers, with only a 9% historical chance of a bear market.</li><li>Oracle AI World 2026 highlighted enterprise AI security, autonomous databases, and AI agents as key themes.</li><li>BlackRock launched a new Robotics and AI-focused ETF tracking the S&P 500 Robotics and AI Index.</li><li>Banks are deploying AI agents on legacy systems, with FlowX.AI helping one lender cut manual credit handoffs by 80%.</li><li>China's AI exports grew 36.3% year-on-year, but new bans on models exceeding 2 trillion parameters could slow the sector.</li></ul>

European stocks fall as AI worries and oil prices rise

European shares dropped on Thursday due to higher oil prices and a tech stock decline. AI company earnings disappointed investors and ended a recent rally. Oil prices rose 3% to above $112 a barrel because of attacks on Saudi energy infrastructure and risks from U.S.-Iran tensions. French bond yields also rose over budget and social unrest concerns. Investors are waiting for next week's Federal Reserve meeting for guidance on monetary policy.

Global markets mixed as AI fears and Middle East tensions weigh on tech earnings

Global markets traded mixed on Wednesday because of worries about AI financing and Middle East tensions. Meta reported a 264% rise in net income to $9.9 billion, while Tesla's net income fell 43% to $787 million. Oil prices rose as the Brent crude reached $110.7 a barrel. The US is preparing to evacuate diplomats from Saudi Arabia amid ongoing attacks. European markets found some relief after early losses, but France's 10-year bond yield hit a 24-year high above 5%.

SpaceX profit report helps lift AI stocks and Wall Street

The U.S. stock market rose on Wednesday after strong profit reports from SpaceX and Capital One Financial. The S&P 500 added 0.4% and the Nasdaq composite was up 0.9%. SpaceX climbed 7.2% after reporting better-than-expected summer profits and considering a possible merger with Tesla. Tesla rose 3.3% ahead of its own earnings report. Nvidia rose 1.9% and Super Micro Computer rallied 8.5% on strong AI demand. However, Netflix fell 4.9% and AT&T fell 5.7% despite beating profit expectations.

AI stock selloff drags global markets lower as oil prices climb

AI stocks tumbled on Thursday and dragged markets down worldwide. The S&P 500 sank 0.9% and the Nasdaq composite fell 1.5%. Oil prices rose more than 2% after a report said seven vessels were damaged in the waterway. Brent crude gained 3.2% to $112.27 a barrel. Asian markets suffered heavy losses, with Tokyo's Nikkei 225 down 2.7% and South Korea's Kospi dropping 3.5%. In Europe, Germany's DAX fell 1.1% and Britain's FTSE 100 declined 0.7%.

AI stocks and rising oil prices weigh heavily on global markets

AI stocks continued to drag markets down worldwide on Thursday while oil hit its highest price since May. The S&P 500 sank 1.3% and the Nasdaq composite was down 2.4%. Nvidia fell 4.3% and CoreWeave dropped 9.6% due to debt concerns. Lam Research tumbled 11.1% despite beating profit expectations. Brent crude rose 2.9% to $111.99 a barrel amid the Iran war. France's CAC 40 fell 1.4% due to rising government bond yields. The U.S. 10-year Treasury yield fell to 4.98% as investors sought safer bonds.

AI stock crash drags global markets down as oil prices surge

AI-related stocks fell sharply around the world, dragging major indexes lower. Lam Research dropped 11.8 percent, Meta fell 7 percent, and CoreWeave fell 10.1 percent. The selling pressure started in Asia, where South Korea's Kospi dropped 3.5 percent. Oil prices also jumped 4 percent to $113.17 a barrel due to worries about the war with Iran.

AI stock losses push Wall Street toward its worst day since July

The S&P 500 fell 1.4 percent and the Nasdaq dropped 2.8 percent as AI stocks led a broad sell-off. Lam Research fell 11.6 percent, Meta lost 7.9 percent, and Nvidia dropped 4.3 percent. CoreWeave fell 11 percent due to debt concerns. Oil prices rose 3.7 percent to $112.80 a barrel amid uncertainty about the war with Iran.

VoteMate AI chatbot helps voters understand their ballot

VoteMate is a new AI app that explains ballot questions in simple language for voters. It has been downloaded over 100,000 times since launching in September. The app uses natural language processing to break down complex ballot measures. It is available on iOS and Android, with a web version coming soon. The creators say it is meant to inform voters, not influence their decisions.

Arizona voters use AI tools to prepare for midterm election

With the midterm election approaching, Arizona voters are turning to AI tools like Claude and ChatGPT to research candidates and ballot measures. Voters say the large number of TV ads and propositions makes it hard to stay informed. Experts recommend asking multiple chatbots the same questions and checking sources carefully. They say AI can help break down complicated propositions and inform voters about lesser-known candidates.

China's AI industry brings growth and risks to its economy

China's AI sector is driving strong export growth, with exports up 36.3 percent year-on-year in September. Semiconductor exports grew more than 108 percent. However, China is planning new export bans on 40 technologies, including AI models with over 2 trillion parameters. Both Moonshot AI's Kimi K3 and Alibaba's Qwen 3.8-Max exceed that threshold. These restrictions could slow China's export boom even as its economy grew 4.4 percent in the third quarter.

AI may ease lawyer stress and change billable hour model

AI lets attorneys finish certain tasks much faster than before. This raises a question about how lawyers should be paid. The focus may shift from counting hours to valuing the work itself.

Yardeni Research says AI stock bubble risks remain limited

Yardeni Research launched an AI Bubble Meter using Anthropic's Claude Fable 5.1 model. The Conditions dial reads 83 out of 100, showing bubble-like traits. The Triggers dial reads 34, meaning factors that end market booms are only partly present. Historically, high Conditions with low Triggers led to a bear market within two years in just 9 percent of cases.

Oracle executives share 9 insights on enterprise AI at AI World

Oracle AI World 2026 featured nine executive interviews on enterprise AI. Topics included security across the technology stack, Oracle AI Database capabilities, database-level controls for AI agents, and AI-powered cyberattacks. Executives also discussed autonomous database infrastructure, the Autonomous AI Lakehouse, Exadata performance improvements, APEXlang for AI-generated applications, and hands-on agentic AI sessions.

Korea Housing Builders Group trains members on tax reform and AI

The Korea Housing Builders Association held a second-half training program on October 28 in Seoul. The event covered the August 3 tax reform plan, property policy trends, credit support through project financing, and AI transformation in housing. Attendance was free and limited to 250 employees from member companies. Chairman Kim Sung-eun said the training aimed to offer practical solutions for current market challenges.

Banks add AI agents while keeping old core systems

Many banks still use core systems up to 40 years old. Sutherland and FlowX.AI plan to run over 220 prebuilt AI agents on top of those existing systems. FlowX.AI reported one European lender cut manual credit handoffs by 80 percent and another cut lending operating costs by 40 percent. Kastle CEO Rishi Choudhary described agents as an action layer over legacy cores, and Kastle raised $24 million in September.

BlackRock launches AI and robotics focused ETF

BlackRock introduced a new exchange-traded fund called the iShares Future Robotics and Related Technologies ETF. The fund will track the S&P 500 Robotics and Artificial Intelligence Index. It will be available to investors in the United States and internationally. The move comes as the use of AI and robotics in industries such as manufacturing and healthcare is on the rise. BlackRock noted growing interest in AI-themed products but said investor enthusiasm has hit speed bumps.

Horizon3 expands in Singapore to boost AI security across Southeast Asia

Horizon3, an AI-native proactive security company, is expanding in Singapore with support from the Singapore Economic Development Board. The company will set up its ASEAN headquarters and a Regional Centre of Excellence in Singapore. This move aims to meet rising demand for continuous security validation as AI-driven cyberattacks grow in speed and scale. The expansion will also cover Australia and Japan, and Horizon3 plans to increase its local headcount. Singapore's Cyber Security Agency reported that AI is increasingly used by threat actors and infected infrastructure in Singapore rose 142% in 2025.

Sources

• European Midday Briefing : AI Stocks Slide, Oil Tops $112
• Global markets trade mixed as AI concerns, Mideast tensions overshadow tech earnings
• A strong profit report from SpaceX helps lift AI stocks and Wall Street
• AI stocks tumble and drag down markets worldwide as oil prices climb
• AI stocks weigh on markets Thursday as oil rises to highest price since May
• Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
• Worldwide drops for AI stocks send Wall Street toward its worst day since July
• New AI tool for voters offers a specialized chatbot to explain your ballot
• Arizona voters turn to AI heading into midterm election
• China’s AI Industry Brings Both Gains and Challenges for Its Fragile Economy
• Billable Hours and Lawyer Stress Have Long Been Intertwined. Can AI Provide a Solution?
• Is the AI Stock Market Bubble Close to Bursting? Yardeni Research Says Risks Remain Limited
• Enterprise AI: 9 Oracle executive insights
• Housing Builders Group to Hold Training on Tax Reform, AI
• Banks Add AI Agents, Keep Their 40-Year-Old Cores
• BlackRock adds robotics ETF to growing ranks of AI-themed products
• Horizon3 expands in Singapore to accelerate AI-native proactive security across Southeast Asia