Weekly Markets Roundup: Nasdaq's Worst Week Since June

The week in markets: October 11 to October 17, 2026. The Nasdaq Composite closed Friday at 26,140.03, down 4.5 percent on the week, its worst week since June (Associated Press / Seattle Times). South Korea's Kospi hit circuit breakers. CoreWeave's 2032 bonds traded as distressed paper. Ripple-backed Evernorth listed as XRPN with 473 million XRP. Brent tagged 110 dollars. Catch up: Friday's analysis and the October 10 roundup.

Top Stock Stories of the Week

A chip rout, an AI-financing scare, and a bank-earnings split that left the Dow up while the Nasdaq was not. Daily notes: Monday, Tuesday, Wednesday, Thursday, Friday. The S&P 500 closed Friday at 7,659.44, down 1.9 percent on the week. The Dow closed 52,002.41, up 0.7 percent.

Kospi Circuit Breakers. The Chip Complex Lost a Trillion

Reports that China's ChangXin Memory Technologies had advanced a denser 4F squared DRAM design hit SK hynix and Samsung on Tuesday. The Kospi closed 6,035.35, down 5.5 percent, with SK hynix off about 10 percent (Tuesday's note). Thursday was the crash. After Wednesday's 3.7 percent CPI print, the Kospi closed 5,554.22, down 7.57 percent, tagged 5,450.81, and halted at 12:38 p.m. local, the first circuit breaker since July 29 (Korea Herald). Samsung fell 9.48 percent. SK hynix fell 11.06 percent. Foreigners sold 3.62 trillion won. The Nikkei closed 64,425.95, down 4.90 percent. Business Insider put the largest chip names more than 1 trillion dollars lower on the week. Why it matters: this was a cost-of-capital and competition repricing.

CoreWeave's Bonds Hit Distressed Yields

Nvidia-backed CoreWeave became the listed proxy for AI-buildout leverage. Yields on 1.25 billion dollars of unsecured 2032 bonds tagged about 15 percent. Credit-default swaps later printed near 1,000 basis points (Reuters). The company carries about 50 billion dollars of debt. Friday finished the unwind: CoreWeave closed 61.39 dollars, down 11.91 percent, more than 25 percent below last Friday's 82.08. Reuters said CEO Mike Intrator and related entities have sold nearly 1 billion dollars of stock since the March 2025 IPO. Why it matters: the AI trade is now a credit story. Nvidia closed Friday at 214.70 dollars.

Goldman Blew Out. JPMorgan Missed. BAC Took a $1.2 Billion Fine

Six large US banks printed 43.5 billion dollars of combined third-quarter profit. Goldman Sachs posted its second-highest quarterly net revenue at 18.68 billion dollars and EPS of 17.01 dollars versus about 13.02, with equities trading up 72 percent to 6.4 billion (Yahoo Finance). JPMorgan missed for the first time in nearly three years: EPS 5.57 dollars versus about 5.90. Bank of America snapped a six-quarter beat streak after a 1.2 billion dollar penalty for failures to report suspicious transactions. Why it matters: equities trading paid for the quarter. The Dow's weekly gain sat on that rotation.

TSMC and ASML Printed Records. The Tape Did Not Care

ASML on Wednesday reported record net sales of 11.7 billion euros and net income of 5.0 billion euros. Full-year 2026 sales were guided to 44 to 45 billion euros. TSMC posted a sixth straight record quarter: revenue 46.72 billion dollars, net profit up 69 percent to NT$763.06 billion, gross margin 66.4 percent. Fourth-quarter revenue was guided to 52.3 to 54.3 billion dollars. TSMC's ADR still closed Thursday down about 1.9 percent. Why it matters: the bottleneck is capacity, not orders. Listed chip beta sold the financing risk anyway.

Top Crypto Stories of the Week

Bitcoin last printed about 81,542 dollars live (CoinGecko), a fade from Monday's about 84,032 and a hold of Thursday's about 79,800 low. Ether last printed about 2,437 dollars. Solana sat near 105 dollars. XRP sat near 1.31 dollars. US spot crypto ETFs tracked across five Farside tables lost 610.7 million dollars from October 12 to 16. Levels sit on the homepage.

XRPN Lists. Evernorth Puts 473 Million XRP to Work

On Monday Ripple-backed Evernorth began Nasdaq trading as XRPN (Decrypt). It holds about 473 million XRP and about 300 million dollars of gross cash. About 80.3 percent of Armada public shareholders redeemed, pulling about 195 million dollars out before close. XRPN opened at 16.68 dollars, tagged 19.39, and closed the debut near 16.91. On Wednesday Evernorth named Ripple, Kraken, Coinbase and BitGo as first partners (The Block). The stock closed 15.26 dollars the day it rang the Nasdaq bell. Why it matters: public-market XRP exposure now has a listed treasury wrapper plus an ETF stack, with a thin float already underwater versus signing.

Ether ETFs Lost More Than Bitcoin. Solana Streak Hit 11 Sessions

Farside put Ether ETF withdrawals at 320.1 million dollars over October 12-16, with BlackRock's ETHA about 299 million. Bitcoin funds lost 228.4 million. Wednesday's 261.4 million Bitcoin withdrawal erased Tuesday's inflow. Solana products lost 25.5 million, every session negative, an 11-session October streak by Friday (crypto.news). Hyperliquid products lost 17.5 million. Why it matters: the listed bid is leaking across four of the five large spot groups, and Ether is leaking faster than Bitcoin.

LINK and NEAR Took the Alt Bid Solana Lost

Chainlink, Polkadot and NEAR spot products posted net inflows on Columbus Day, while SOL, Dogecoin, HYPE and ZEC posted outflows (TokenPost / SoSoValue). XRP ETFs were roughly flat after 13 prior weeks of inflows that had taken the stack to about 1.80 billion dollars cumulative. Solana's Alpenglow consensus upgrade is expected around October 21. Why it matters: listed alt demand is rotating into oracle and infrastructure wrappers while SOL ETFs leak into a consensus rewrite.

M&A, Partnerships, Deals

Galderma agreed Wednesday to acquire ZO Skin Health for 1.5 billion dollars of enterprise value, its biggest deal since the 2024 listing (Reuters). AstraZeneca signed an insitro collaboration worth up to 1.5 billion dollars for MASH and cardiomyopathy. Roche licensed Rona's ALK7 RNAi in a deal Fierce Biotech put at 1.16 billion dollars. Vir and Gilead announced a T-cell-engager collaboration worth up to about 1.87 billion dollars. Labcorp agreed to acquire select BioReference assets from OPKO for up to about 872 million dollars. The European Commission on October 14 cleared Kimberly-Clark's 48.7 billion dollar Kenvue purchase with feminine-care divestitures, still aimed at a fourth-quarter close. Why it matters: the week's cheques clustered in dermatology, obesity and diagnostics.

Regulatory & Macro

Wednesday's September CPI was the last major inflation print before the October 27-28 FOMC. Headline rose 0.6 percent on the month and 3.7 percent year over year (Reuters). Core rose 0.3 percent and 2.6 percent. Gasoline jumped 9.1 percent on the month. Thursday's PPI printed 1.3 percent month on month, the largest since March 2022, and 6.3 percent year over year. Retail sales rose 0.8 percent; the control group printed 0.1 percent. Friday, Chair Kevin Warsh told the IMF meetings in Bangkok he does not prejudge meetings. The Straits Times said October hike odds fell from about 27 percent to below 15 percent after (Friday's note). The Fed entered blackout on Saturday.

Oil was the geopolitical swing. Trump's claimed Russia-Ukraine energy truce did not hold. Ukraine struck Russian refineries. Iran stepped up Hormuz attacks; CNBC counted at least nine commercial ships hit since Sunday. Kpler put Hormuz crude flows near 9.4 million barrels a day, about 70 percent of the pre-war average. The IEA agreed to release more than 20 million barrels of diesel. WTI still settled Friday at 101.41 dollars, up 10.4 percent on the week. Brent settled 109.86 dollars after tagging 110, the first time since May. Why it matters: gasoline is already inside CPI and PPI.

Week Ahead: What to Watch

Next week is an earnings week more than a data week. Netflix, Tesla and Meta print into a Nasdaq that just posted its worst week since June. Flash PMIs land Friday. The Fed is silent through the October 27-28 FOMC. The docket is on the calendar.

• Tuesday, October 20: US housing starts at 12:30 UTC. General Motors before the open. Netflix after the close, consensus EPS about 0.82 dollars.
• Wednesday, October 21: Tesla and Meta after the close. Tesla already reported 486,532 third-quarter deliveries. Texas Instruments and Lam Research the same afternoon. Solana's Alpenglow consensus upgrade is expected around this date.
• Thursday, October 22: Procter & Gamble before the open. Weekly claims at 12:30 UTC. Leading index at 14:00 UTC.
• Friday, October 23: Flash US manufacturing and services PMIs. University of Michigan final October sentiment after the preliminary 46.3 print. American Express before the open. Then FOMC October 27-28.

ThriveInMarkets publishes market commentary for general information only and does not provide personal investment advice. Equity, gold and WTI figures are cash-session closes for October 12 to 16, 2026. Crypto is live as of 11:11 UTC on October 17, 2026. Levels mentioned are observations, not instructions to buy or sell any asset.