Analyst Liz points out that for SpaceX, the cost of the "fear" triggered by AI anxiety, calculated using Wall Street's quantitative methods, is approximately 200 basis points. Four months ago, SpaceX issued its first corporate bonds. At that time, the market was still immersed in optimistic expectations for the future, and the company's highest-cost bond financing had an interest rate of 6.65%. According to a source familiar with the matter, the highest-cost tranche of SpaceX's recently finalized $40 billion private credit financing will have an interest rate as high as 8.75%. Since reports of related pricing negotiations last week, this rate has climbed further. Breaking down this spread, at least 25 basis points can be attributed to the Fed's September rate hike and market expectations of another Fed rate hike before the end of the year. The remaining part stems purely from market anxiety. This 200 basis points means hundreds of millions of dollars in additional borrowing costs, which cannot be attributed to the Fed, nor entirely to the belated risk awareness of lending institutions. The real reason is that the market's doubts about the return on investment in artificial intelligence are deepening, and at the same time, there is growing skepticism about borrowers' ability to repay debts.

According to US financial media Semafor: SpaceX (SPCX.O) priced its bonds at up to 8.75% in a $40 billion credit deal.

Oppenheimer raised its price target for Microsoft (MSFT.O) from $570 to $625.

The Chicago Fed National Activity Index for September was 0.07, revised from -0.04 to -0.08 in the previous month.

El Niño could be bearish for the natural gas market, as warmer, wetter, and windier weather conditions will reduce heating and electricity demand. Current European weather forecasts indicate a significantly warmer winter: November and December temperatures are projected to be 1.4 standard deviations above the normal level for the same period over the past 10 years, and January and February 2027 are expected to be 0.5 standard deviations above. If these forecasts materialize, all else being equal, natural gas inventory levels at the end of March could be up to 6 percentage points higher than levels based on normal weather assumptions over the past 10 years. More favorable wind and hydropower conditions could further increase inventory levels by 9 percentage points at the end of March. Despite the significantly warmer winter outlook, especially for the first half of the heating season, we have only incorporated mild adjustments into our model due to the inherent uncertainties in seasonal forecasts. Currently, we assume November temperatures to be approximately 0.7 standard deviations above normal and December temperatures to be approximately 0.5 standard deviations above normal, lower than the approximately 1.4 standard deviations shown in current weather forecasts. Currently, we have not yet incorporated the potential impact of El Niño on wind and hydropower generation, as well as related changes in thermal power generation and natural gas consumption, into our model. If these factors materialize, it will further shift our assessment of the natural gas supply and demand balance towards a bearish bias.

The Reserve Bank of India (RBI) stated that no customers suffered financial losses. Remedial measures have been taken.