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2026-10-17 · 8 high-impact headlines

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  1. Jefferies is bullish on the year-end rally in US stocks: the current pullback may be a rare opportunity to build positions.BlockBeats news, October 17: Jefferies market intelligence analyst Dan Kirsche said that although tech stocks continue to face pressure, the market rally is broadening to more sectors, and combined with reduced investor positioning pressure and falling U.S. Treasury yields, current market volatility may provide investors with a rare window to build positions, and he expects U.S. stocks to perform strongly in November and December. Kirsche pointed out that the Nasdaq has pulled back about 5% from its high, while the S&P 500 equal-weight index has rebounded about 7%–8% from its low, showing that weakness in tech stocks has not prevented other sectors from strengthening. However, he expects the S&P 500 may still retest its 100-day moving average at around 7,600 points. The correction risk in the semiconductor sector has also not been lifted, with the Philadelphia Semiconductor Index falling for an eighth consecutive day, on track for its longest losing streak since May 2006. BTIG analyst Jonathan Krinsky believes that after the Philadelphia Semiconductor Index's consecutive declines, a short-term rebound may occur, but there is still room for further downside in the medium term. Kirsche sees 11,000 points as the index's next important support level, and expects the U.S. 10-year Treasury yield may fall from about 5.13% to 5.00%, then further decline to 4.8%.
  2. Anthropic Said to Offer Blackstone Over 10% Yield for $60 Billion Chip FinancingAnthropic is offering Blackstone over 10% yield to raise funds for its latest chip deal. The $60 billion debt financing plan, called "Project North Star," will help Anthropic procure approximately 1.5 gigawatts of custom semiconductors developed by Google, known as TPUs. This is expected to become the largest chip financing deal to date and a key test of investor demand for AI-related debt. Sources familiar with the matter said Blackstone's fund will invest $9 billion to purchase debt backed by Anthropic's chip lease payments over the next five years, accounting for half of the approximately $18 billion in subordinated loans. The coupon rate quoted to Blackstone is 10%, and the total yield will be even higher when factoring in new issue discounts and other fees. According to the ICE BofA BB US High Yield Index, borrowers with similar credit profiles typically pay around 7% yield when raising funds in the public bond market.
  3. The U.S. fiscal year 2026 budget deficit is approaching $2 trillion, as Trump's spending cuts face setbacks.BlockBeats news, October 17, according to The New York Times, U.S. Treasury Department data shows that the U.S. federal budget deficit rose to $1.99 trillion in fiscal year 2026, up from $1.78 trillion in fiscal year 2025, the highest level since the pandemic. Although the Trump administration promised to cut spending, rising military spending, Social Security outlays and national debt interest, combined with falling corporate tax revenue, further widened the fiscal deficit. Data shows that total U.S. government spending rose 6% year-on-year to $7.4 trillion in fiscal year 2026, while tax revenue rose 3% year-on-year to $5.4 trillion. Among these, rising long-term interest rates increased national debt interest payments by more than $100 billion compared with 2025; in addition, the U.S. Supreme Court ruled that tariffs imposed by Trump on national security grounds were illegal, and the government needs to refund more than $100 billion in tariff revenue this year. Total U.S. national debt surpassed $40 trillion in August. As inflationary pressure persists and Treasury yields rise to 20-year highs, the government's financing costs have further increased. U.S. Treasury Secretary Bessent had previously hoped to reduce the deficit as a share of GDP to 3%, but that ratio rose back above 6% in fiscal year 2026. International Monetary Fund Managing Director Georgieva said that although economic growth helps, it cannot complete the necessary fiscal adjustment quickly enough.
  4. Jensen Huang: Current market turmoil will eventually pass, AI will bring transformationNvidia (NVDA.O) CEO Jensen Huang said at an event in Berlin that the current turbulence in the AI market will eventually pass, for a simple reason: AI will bring transformation and have a very positive impact on every industry and every country. There is no doubt that the development of AI will continue to advance, and we are still in the early stages of this process. Huang said that recent market news has been changing repeatedly, but this will not change the industry's fundamentals. Large-scale hardware investment will ultimately generate returns and ease market unease. Regarding the recent sell-off in AI chip and infrastructure stocks, with investors worried that AI investment spending will be difficult to sustain amid rising borrowing costs, Huang remains optimistic about the AI market and its impact on the overall economy. Huang said investors should focus on first principles and fundamentals and maintain attention on long-term value.
  5. U.S. stocks closed lower on Friday, with the three major indexes falling. Coreweave dropped nearly 12%, and MSTR fell 9.56%.BlockBeats news, October 17th, according to BIT (bit.com) market data, U.S. stocks closed lower on Friday, with the Nasdaq falling 2.14%, the S&P 500 index dropping 1.09%, and the Dow initially closing down 0.34%. Coreweave (CRWV.O) fell 11.91%, SK Hynix (SKHY.O) dropped 6.58%, Arm (ARM.O) declined 6.94%, SanDisk (SNDK.O) decreased 6.85%, Oracle (ORCL.N) fell 4.64%, Tesla (TSLA.O) dropped 2.13%. Strategy (MSTR) fell 9.56%, SharpLink (SBET) dropped 7.46%, Bitmine (BMNR) declined 7.28%, Circle (CRCL) decreased 5.46%, Coinbase (COIN) fell 5.79%.
  6. U.S. stocks experience 'Black Friday': Nasdaq drops over 2%, AI concept stocks plunge across the board.BlockBeats news, October 17 - According to market data from BIT (bit.com), the Nasdaq's decline widened to 2.36%, the S&P 500 fell 1.19%, and the Dow dropped 0.58%. SPCX fell 2.24%, ORCL dropped 4.42%, GOOGL declined 2.27%, NVDA fell 0.95%, TSLA dropped 2.97%. Among other AI-related stocks: Optical modules: COHR fell 6.26%, LITE dropped 3.87%, AAOI declined 7.89%, NOK fell 2.51%, MRVL dropped 4.2% Storage: SKHY fell 6.13%, MU dropped 4.33%, SNDK declined 5.3%, WDC fell 5.16%, STX dropped 5.97%
  7. U.S. crypto stocks broadly declined, with Strategy (MSTR) falling nearly 10%.BlockBeats news, October 17, according to BIT (bit.com) market data, US crypto stocks fell broadly, among them: Strategy (MSTR) fell 9.9% Strive (ASST) fell 7.97% SharpLink (SBET) fell 6.46% Bitmine (BMNR) fell 6.87% Bullish (BLSH) fell 7.09% Gemini (GEMI) fell 4.90% Circle (CRCL) fell 5.65% Coinbase (COIN) fell 4.5%
  8. Bitcoin falls below $81,000, Ethereum drops below $2,400.BlockBeats news, October 17, according to HTX market data, Bitcoin fell below $81,000, currently quoted at $80,936. Ethereum fell below $2,400, currently quoted at $2,397.