Is Marco Rubio already eyeing 2028? White House officials say he hasn’t declared it as a goal. They also dismissed reports that he plans to leave the Trump administration to run for president, calling them “completely baseless” and “fabricated.”

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⚡️ Nasdaq is heading for its steepest one-day drop in 19 months, with chipmakers leading the slide. The trigger: fears of AI regulation after Democrats won control of the US Congress. Wall Street’s chip stocks are having a decidedly rough day.

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60% of Paraguay’s adults bank with Ueno Bank. When the bank went down, millions of customers lost access to their accounts, cards and app.

The outage followed intervention by the central bank. At the same time, US stocks were falling, Paraguay’s president resigned, and USDT traded at a 15%-20% premium.

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Walleye Capital, a $17B hedge fund, is restructuring its equity business after its worst month since March 2020. The changes include leadership departures and the exit of a substantial share of its portfolio managers. The firm also plans to return some investor capital.

The timing has drawn attention to a separate attempt to sell $500M in data-center loans by an unidentified seller. Speculation has linked the seller to Walleye, though that connection remains unconfirmed. If true, it could signal that the AI sell-off is spreading beyond public equities into private credit.

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⚡️ Trump on Iran: “I’d prefer not to destroy what remains of the country, if possible. But I may have to.”

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How much further have markets fallen? Nasdaq 100 futures are down 7.1% over the past 12 hours as after-hours selling continues.

The S&P 500 has lost $5 trillion since its October 6 high.

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⚡️ What prompted Trump to speak out? After today’s stock market crash, he called it one of the market’s “worst days in history.”

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Texas could halt AI data center expansion until safeguards are in place.

Governor-elect Gina Hinojosa says lawmakers need to act first. She told CNN that data center activity should stop until protections are established.

Hinojosa is set to become Texas’s first Democratic governor since 1995.

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Did Galaxy $GLXY’s CEO just buy the dip? Novogratz picked up $9.9 million in company stock after shares fell 41%. The board also approved another $200 million for buybacks.

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Several hedge funds are reportedly facing steep losses, investor withdrawals and possible closures this week.

Walleye Capital, which manages $17B, posted its worst month since March 2020, falling 5.9% in October. The firm is cutting equity long/short leadership and teams, returning capital, and shifting toward volatility and quantitative strategies.

Others named in the shakeout include Axebrook, Engineers Gate, Lone Pine, Millennium’s internal pods, Verition’s pods and Samlyn.

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Higher energy costs could trigger a chain reaction: stronger wage demands, then rising prices across the economy. ECB official Philip Lane says the threat is real.

One factor is fiscal policy. It has been looser than expected. Tightening is planned for next year, but there is still room to curb spending now.

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Trump said the Iran war was largely to blame for the Republicans’ defeat. Still, he insisted the operation was needed to stop Iran from getting nuclear weapons.

He also said he would “get along” with the Democrats. A diplomatic plot twist.

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Which states will accept Trump’s offer to gain financial benefits from AI? The proposal could deliver economic gains to states that choose to take it up.

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Elon Musk says Cybertruck production could start winding down around mid-2027. Production is continuing for now, and Tesla has not announced a shutdown. If the timeline holds, it would mark the beginning of the truck’s final chapter.

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Could Tehran’s willingness to discuss previously off-limits nuclear issues help bring the war closer to an end? The change may signal progress in negotiations and move both sides toward a deal. 🤝

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October added 165,000 jobs, well above the 64,000 forecast. Unemployment was 4.1%, below the expected 4.2%. September’s job gains were also revised up by 28,000. Together, the figures strengthened expectations of a December rate hike. The case is becoming harder to dismiss.

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What drove the semiconductor rally at the US open? The trigger remains unclear, but the index jumped 5.4%, with SanDisk leading the gains at 10.4%. The Dow, by contrast, fell 1%.

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⚡️ OpenAI CFO Sarah Friar confirms the company is in fundraising talks at a valuation nearly 50% higher than in its March round.

Her explanation: demand for AI is real.

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Could a NT$500 billion fund steady Taiwan’s stock market? The rescue plan follows the Taiex’s worst week since 2001. Short-selling curbs begin Nov 9.

Arthur Hayes: “Let the AI bailouts begin!”

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Did an airstrike hit Qeshm Island in the Strait of Hormuz? The strike was reported, along with explosions and missile launches after Iranian forces reportedly fired at a drone overnight.

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⚡️ JD Vance has proposed direct talks with Iran to secure a new ceasefire.

The proposal comes after near-daily discussions with Qatari and Pakistani mediators. Meanwhile, U.S. forces remain ready to resume strikes, so diplomacy has plenty to do.

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