Global Market Today: Stock selloff extends to Asia as chip rout deepens

Economic Times - Oct 15, 2026

MSCI Inc.’s Asia Pacific equities gauge dropped 1.5%, heading for a fourth straight decline, led by losses in South Korea, a bellwether for artificial intelligence investment. The Kospi Index slumped as much as 6.5% to its lowest since late July, with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. tumbling at least 7%.

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Tonbo Imaging IPO: Can defence sector tailwinds offset weak financials?
Oct 15, 2026
Tonbo Imaging IPO: Can defence sector tailwinds offset weak financials?

Tonbo Imaging is set to raise ₹852 crore as it approaches the stock exchanges. The company is expected to benefit from rising demand for advanced defence technologies. However, it has faced revenue declines due to international order delays. Its profit and return on equity have also decreased amid these challenges. Valuation metrics indicate a premium compared to industry peers, indicating potential investor caution.

No magic fix: IMF chief warns growth cannot solve America's $40 trillion debt
Oct 15, 2026
No magic fix: IMF chief warns growth cannot solve America's $40 trillion debt

The head of the International Monetary Fund highlights the urgent need to address global debt levels. Rising interest rates and inflation have created burdens on low-income countries, with many unable to finance their needs. The median developing country is paying significantly more in interest compared to developed nations, affecting government budgets. Job creation and investment initiatives are crucial for the upcoming workforce, especially as artificial intelligence advances.

Ankita Bhandari's parents, Congress leaders detained during India Gate protest
Oct 15, 2026
Ankita Bhandari's parents, Congress leaders detained during India Gate protest

Delhi Police detained several opposition leaders and Ankita Bhandari's parents during a protest at India Gate. Congress leaders criticized the police action as an attack on democratic freedoms and justice. The protestors demanded the cancellation of Dushyant Gautam's recent appointment as Sikkim Governor. Family members of Ankita Bhandari expressed their discontent over political appointments amidst ongoing investigations. The situation reflects ongoing tensions surrounding the quest for justice in Ankita's case.

Ankita Bhandari's parents, Congress leaders detained during India Gate protest
Oct 15, 2026
Ankita Bhandari's parents, Congress leaders detained during India Gate protest

Delhi Police detained several opposition leaders and Ankita Bhandari's parents during a protest at India Gate. Congress leaders criticized the police action as an attack on democratic freedoms and justice. The protestors demanded the cancellation of Dushyant Gautam's recent appointment as Sikkim Governor. Family members of Ankita Bhandari expressed their discontent over political appointments amidst ongoing investigations. The situation reflects ongoing tensions surrounding the quest for justice in Ankita's case.

Can Zetwerk Manufacturing IPO deliver long-term growth for high-risk investors?
Oct 15, 2026
Can Zetwerk Manufacturing IPO deliver long-term growth for high-risk investors?

Zetwerk Manufacturing is planning to raise ₹2,830 crore through an IPO while also aiming for ₹2,182 crore from an offer for sale. The company, which was incorporated in 2017, has various clients and operates a universal factory model. Although revenue grew significantly, the operating margin remained thin and net losses increased in recent years. Investors are cautious due to rising debt and negative operating cash flow trends.

Sexual assault allegation at Chicago fraternity house puts campus safety in focus
Oct 15, 2026
Sexual assault allegation at Chicago fraternity house puts campus safety in focus

A woman reported being sexually assaulted at a fraternity party near the University of Chicago campus. Police are investigating the allegations during a time of heightened awareness about campus sexual violence. The perpetrator allegedly fled after being confronted by another party attendee, and university officials are seeking more information. The fraternity involved stated that no members participated in the incident or encouraged the behavior.

Cornell president faces no-confidence push over handling of sexual assault case
Oct 15, 2026
Cornell president faces no-confidence push over handling of sexual assault case

Cornell University President Michael Kotlikoff confronted faculty frustration regarding his administration's handling of a serious sexual assault allegation. During a Faculty Senate meeting, faculty members expressed significant anger and questioned Kotlikoff's management of the incident. Faculty are considering a no-confidence resolution to signal their dissatisfaction with administration transparency and reforms. As the administration has faced a lawsuit related to the case, many faculty urge changes to address systemic issues.

Canara Bank net profit up 8.4%, treasury losses weigh
Oct 15, 2026
Canara Bank net profit up 8.4%, treasury losses weigh

Canara Bank experienced an 8.4% year-on-year increase in net profit, reaching ₹5,175 crore for Q2 FY27. The bank's improvement in asset quality contributed to this profit growth, alongside core income expansion. However, mark-to-market losses from rising bond yields limited higher earnings outcomes. Its gross non-performing assets ratio also improved, declining to 1.3% from both the previous quarter and last year.

Trump press secretary Katie Zacharia faces questions over law credentials
Oct 15, 2026
Trump press secretary Katie Zacharia faces questions over law credentials

Katie Zacharia, the new White House press secretary, is facing questions about her legal credentials and background. Although she claims to be a lawyer, there is no evidence she has passed any bar exam. The White House has defended her, stating she is uniquely qualified for her role. Concerns have been raised about her misrepresentation of legal status which may violate California law.

US and China race to shape AI agenda ahead of Xi-Trump talks in Shenzhen, sources say
Oct 15, 2026
US and China race to shape AI agenda ahead of Xi-Trump talks in Shenzhen, sources say

The United States and China are in regular talks to iron out details of a framework announced last month for handling AI-related incidents and institutionalising bilateral dialogue, multiple sources told the South China Morning Post. The technical teams of the two countries aim to make AI cooperation a potential deliverable when presidents Xi Jinping and Donald Trump meet on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Shenzhen next month – their third face-to-face...

Chinese scientists use open-source data to spot suspected Israeli electronic warfare units
Oct 15, 2026
Chinese scientists use open-source data to spot suspected Israeli electronic warfare units

Chinese military scientists claim they have developed an algorithm that could help identify electronic warfare units using civil aviation flight data. The researchers said they had located two sources of interference that were spoofing their locations near Israel during the conflict with Iran. The team did not explain why they had focused on the Israeli military. The researchers estimated the locations of the two units as being near Haifa, with reported positioning errors between 10.9km and...

Hegseth vows to stop Iran getting nuclear weapons as anti-war protesters disrupt speech
Oct 15, 2026
Hegseth vows to stop Iran getting nuclear weapons as anti-war protesters disrupt speech

US War Secretary Pete Hegseth emphasized that the United States must act to prevent Iran's nuclear ambitions. Protests erupted during his speech at the Association of the US Army meeting, with demonstrators expressing their dissatisfaction. Hegseth responded to hecklers in the audience, which were eventually removed by security personnel. In related events, US Central Command reported the destruction of an Iranian vessel in the Gulf of Oman.

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