Global stocks wobble on US inflation jolt as Asia rides AI chip boom

A hotter‑than‑expected U.S. inflation report for October rattled Wall Street on November 10, knocking major indexes off the strong gains seen the previous day. The S&P 500 slipped 0.4% and the tech‑heavy Nasdaq Composite lost 0.7%, as a renewed jump in bond yields revived worries about how long high rates will restrain equity valuations. The 10‑year U.S. Treasury yield surged from 4.88% to 4.99%, a move large enough in a single session to pressure growth and tech names in particular.

Asia, however, told a very different story in trading on November 11. Regional benchmarks mostly advanced, led by markets with heavy exposure to the artificial‑intelligence supply chain. Taiwan’s Taiex index jumped more than 3%, with Taiwan Semiconductor Manufacturing Company (TSMC) rallying after reporting that its October revenue was nearly six times higher than a year earlier, underscoring still‑booming demand for AI chips despite recent volatility in U.S. tech stocks.

The cross‑current comes after U.S. equities had just logged their best day since April, helped by a sharp slide in oil prices that eased some macro worries. Investors now find themselves balancing powerful AI growth expectations against the drag from higher long‑term yields, producing a market where winners and losers increasingly diverge by region and sector rather than moving in lockstep.