Shares of AMD (AMD.O), Intel (INTC.O) and Marvell (MRVL.O) fell more than 5%.

On Oct 15 in Shenzhen Jingji Zhinong signed a strategic cooperation agreement with Super Intelligent Computing Company. As a first step, Jingji’s compute unit Zixia Beifang signed a purchase contract to acquire AI servers to expand compute capacity. The partnership covers compute infrastructure and products, supply-chain and production coordination, full-life-cycle operations, and joint market/ecosystem development; the parties will set up supply-assurance protocols for equipment selection, quality verification and delivery acceptance, use demo centers and client networks for joint marketing toward government and financial compute markets, and promote applications in smart parks, hotels, smart agriculture, food cold chain and traceability to form a compute–scenario–service ecosystem.

LPL Financial chief economist Jeffrey Roach said inf pressure is spreading from energy into the broader economy, suggesting the final phase of returning inf to target will be bumpy and could keep interest rates elevated for an extended period. He said the latest report complicates the Fed's policy decision this month by making the path to price stability more difficult.