10 #Bitcoin ETFs outflows 3,062 $BTC(-$302.76M) and 9 #Ethereum ETFs outflows 16,114 $ETH(-$53.01M) yesterday.

Overnight to early this morning, risk aversion across U.S. markets surged. Catalysts included attacks on Saudi energy facilities, and reports that the U.S. and Israel have drafted plans to strike Iran after the U.S. midterm elections. Brent crude climbed to a five-month high, while WTI crude hit a five-month peak, approaching $100 per barrel. Adding to uncertainty over the midterm elections, these factors pushed yields on 2-year to 10-year U.S. Treasuries down by more than 15 basis points. The French-German yield spread widened to 175 basis points at one point, the highest level since the 2011 European debt crisis. According to Bitget market data, the S&P 500 closed at 7,662.54 on Thursday, down 1.22%, ending its three-day winning streak. The Nasdaq Composite fell 2.60%. By sector, U.S. consumer staples, healthcare, and utilities led gains, while semiconductors, memory chips, and optical communications led losses. The chip index dropped 6.72%. In individual stocks, per BIT (bit.com) market data, CoreWeave fell 10%, Micron Technology declined 6.26%, Western Digital fell 6.43%, dropping more than 5% in post-earnings after-hours trading. Optical communications firm Coherent tumbled over 12%, while AAOI and LITE both fell more than 11%. Meta’s third-quarter revenue beat expectations, but its capital expenditure continued to rise, lifting future spending commitments to $825 billion and turning its free cash flow negative. The company’s five-year credit default swap (CDS) hit an all-time high. Funding concerns spread along the AI industry chain. Meta closed down 6.98% on Thursday, and fell an additional 0.61% in after-hours trading. Crypto-related stocks also fell, with MSTR down 5%, BMNR dropping over 6%, CRCL declining 3.44%, and COIN falling 4.49%. Per HTX market data, Bitcoin briefly dipped below $81,000 at midnight, then stabilized and consolidated, currently trading at $81,347.20.

According to Bitget market data, South Korea’s KOSPI index continues its downward trend, with losses widening to 3.00% after today’s opening, and is currently trading at 5364.99 points. Among heavyweight stocks, SK Hynix is down 2.7%, while Samsung Electronics falls 4.08%.

The Commodity Markets Council, which represents derivative exchanges including CME Group and commodity traders, has told the U.S. Commodity Futures Trading Commission (CFTC) that perpetual futures pose significant risks to market integrity. The group urged regulators not to approve the perpetual oil futures contract proposed by prediction market platform Kalshi, and also called on the CFTC to close regulatory loopholes to prevent retail investors from accessing offshore trading platforms. (Bloomberg)

U.S. Senate Permanent Subcommittee on Investigations top Democratic member Richard Blumenthal is probing multi-million dollar payments from Tether to Nxum Group, a consulting firm founded by former White House crypto advisor Bo Hines, and has sent letters to Tether and Nxum demanding disclosure of the relevant business arrangements. The Wall Street Journal previously reported that Nxum received large consulting fees from Tether while Hines was still serving as a White House crypto policy advisor. Blumenthal argues Hines was directly involved in stablecoin policy development affecting Tether’s business at the time, and the payments may raise legal and ethical concerns. Hines currently heads Tether’s U.S. operations, and Tether has not yet responded to the investigation. (CoinDesk)

According to The Wall Street Journal, former U.S. President Donald Trump called Elon Musk on Wednesday, demanding the removal of speed limits on Starlink services for Ukrainian military use. U.S. and Ukrainian officials said that after the call, Starlink service returned to more normal operation on Thursday. However, Ukrainian officials’ accounts of the recovery are not entirely consistent: some said the system’s speed had improved significantly, while others noted that some military units were still affected by the original speed limits. U.S. Senator Richard Blumenthal, a Democrat from Connecticut, announced Thursday that he will launch an investigation into Starlink’s unannounced reduction of Ukraine’s communications capabilities, while also reviewing the implications of the Pentagon’s reliance on SpaceX’s critical satellite communications services.

U.S. tech stocks plunged as investors grew increasingly concerned that surging spending in the artificial intelligence (AI) sector is unsustainable. The Nasdaq fell 2.6% on Thursday, marking its largest single-day decline since June. Meanwhile, the blue-chip-heavy Dow Jones Industrial Average edged up 0.02%. Multiple major AI-related stocks declined amid market jitters over tech firms' massive AI investments. Meta (META.O) dropped 7% after the company disclosed it will take on large additional spending commitments going forward. Despite Meta's robust revenue growth, its profit missed Wall Street expectations. Investor and analyst Navellier noted: "It all traces back to Meta. The issue now is that the market is selling off indiscriminately, throwing the baby out with the bathwater." Adding to AI spending concerns, NVIDIA’s CEO said the sector lacks sufficient capital to support the growth of so-called "Neoclouds"—new cloud service providers that primarily deliver digital infrastructure to large AI cloud computing firms like Meta and Amazon. Stocks of SpaceX, NVIDIA, and CoreWeave all fell, while the Philadelphia Semiconductor Index plummeted 6.7%. Against the backdrop of persistent volatility in the AI sector this week, U.S. investors are flocking to the bond market for safety to avoid high-risk assets such as tech stocks. As capital pours into bonds, U.S. Treasury yields have declined sharply.